Management's Responsibility for the Financial Statements

The Company's Management is responsible for 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 Standards notified under the Companies Act, 1956 ("the Act") (which continue to be applicable in respect of Section 133 of the Companies Act, 2013 in terms of General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs) and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control 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 conducted our audit in accordance with Auditing Standards generally accepted in India. 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 includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

Opinion

1. Further to our comments in the Annexure referred to above, we report that:

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:

a. In the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2014;

b. In the case of the Statement of Profit and Loss Account, of the profit of the Company for the year ended on that date; and

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

Report on Other Legal and Regulatory Requirements

1 As required by the Companies (Auditors' Report) Order, 2003 issued by the Central Government of India in terms of Section 227(4A) of the Companies Act, 1956, we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

2 As required by section 227(3) of the Act, we report that:

i. 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.

ii. 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 and company does not have any other branch where separate accounting record is maintained.

iii. The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account and company does not have any other branch where separate accounting record is maintained.

iv. In our opinion, the Balance Sheet, the Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards notified under the Companies Act, 1956 ("the Act") (which continue to be applicable in respect of Section 133 of the Companies Act, 2013 in terms of General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs);

v. 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 is disqualified as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

vi. Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act,1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company.

ANNEXURE TO AUDITORS' REPORT

Referred to in paragraph 1 under 'Report on Other Legal and Regulatory Requirements' section of our report of even date of OSCAR GLOBAL LIMITED for the year ended on 31st March 2014.

1 FIXED ASSETS

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

b. All the fixed assets have been physically verified by the management at reasonable intervals and according to the information and explanations given to us, no material discrepancies were noticed on such verification;

c. No part of fixed assets has been disposed off during the year;

2 INVENTORY

a. The physical verification of inventory has been conducted at reasonable intervals by the Management;

b. The procedures of physical verification of inventory followed by the management were reasonable and adequate in relation to the size of the company and the nature of its business;

c. The company has maintained proper records of inventory and no material discrepancies were noticed on physical verification;

3 The Company has neither granted nor taken any loans, secured or unsecured, to/ from companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956 accordingly paragraph 4 (iii) of the order, is not applicable;

4 In our opinion and according to the information and explanation given to us there are adequate internal control procedures commensurate with the size of the Company and the nature of the business with regard to purchases of inventory, fixed assets and for the sales of goods. There are no continuing failure to correct major weaknesses in internal control;

5 According to the information and explanation given to us, there were no transactions of sale/ purchase of goods, materials and services, made with the parties in pursuance of contracts or arrangements entered in register maintained under section 301 of the Companies Act, 1956. Hence no comments required;

6 According to the information and explanation given to us, the Company has not accepted any deposits from the public to which the provision of Section 58A of the Companies Act, 1956 apply;

7 In our opinion, the company has an adequate internal audit system commensurate with its size and nature of its business;

8 The Central Govt. has not prescribed maintenance of Cost Records under Sec. 209(1 )(d) of Companies Act, 1956;

9 (a) None of the undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, Custom Duty, Excise Duty including Provident Fund and Employee's State Insurance were outstanding as at the last day of the financial year concerned for a period of more than six months;

(b) There has been no disputed amount to be deposited in respect of Sales Tax, Income Tax, Custom Tax, Wealth Tax, Excise Duty and Cess etc;

10 There has been accumulated losses at the end of financial year amounting to Rs. 434.84 Lacs (prev. year 550.61 Lacs);

11 In our opinion and according to the information and explanations given to us, the Company has not defaulated in the repayment of dues to banks and financial institutions;

12 The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities, accordingly paragraph 4(xii) of the Order is not applicable;

13 The Company is not a chit fund/ nidhi/ mutual benefit fund/ society to which the provisions of special statute relating to chit fund are applicable, accordingly paragraph 4(xiii) of the Order is not applicable;

14 As the Company is not dealing or trading in shares, securities, debentures and other investments, I paragraph 4(xiv) of the Order is not applicable;

15 According to the information and explanations given to us, the Company has not given any guarantee during the year for loans taken by others from banks or financial institutions;

16 The company has not raised any term loan during the financial year;

17 In our opinion and according to the information and explanations given to us, and on an overall examination of the Balance Sheet, we report that funds raised on short-term basis have not been used during the year for long-term investment and vice versa;

18 The company has not made any preferential allotment of shares during the year;

19 The company has not issued any debentures during the year;

20 The company has not raised any money by way of public issue during the year;

21 To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no material fraud on the Company has been noticed or reported during the year.

                                                 For SUSHIL VIPAN & CO.
                                                  CHARTERED ACCOUNTANTS

                                                        VIPAN AGGARWAL)
                                                             PROPRIETOR
Place : Delhi                                              M.No. 084726
Dated: 07th May, 2014                                     FRN : 006127N