Management Responsibility for the Financial Statements

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 referred to in sub-section ( 3 C ) of section 211 of the Companies Act. 1956 ( " the Act") .The 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 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 reasonable assurance about whether the financial statements are free of material misstatement.

An audit involves performing procedures to obtain audit evidence about the accounts and disclosures in'the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of risks of material misstatement of the financial statements, whether due to fraud or error, in making those risks 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 reasonableness 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 of 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 Companies Act, 1956, in the manner so required and give a true and lair 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 31stMarch, 2014:

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Act, we submit that statement on the matters specified in paragraphs 4 and 5 of the Order is not applicable to the company at present.

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 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 Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in agreement with the books of account;

d) On the basis of the written representations received from the directors as on.31st March, 2014 and taken on record by the Board of Directors, none of the directors is disqualified as on 31st March. 2014 from being appointed as a director in terms of Section 274 (1) (g) of the Act. ANNEXURE REFERRED TO IN PARAGRAPH 2 OF AUDITORS REPORT OF EVEN DATE NO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH, 20.14. VEI.OX INDUSTRIES LIMITED (formerly known as KHATAU EXIM LIMITED.)

On She basis of such checks /audit procedures as we considered appropriate on. the books of accounts produced before us and according to die information and explanation given to us during trie course of the audit, we state that.

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

b. The management has at reasonable intervals carries out the physical verification of the fixed assets. No material discrepancies have been noticed on such verification.

c. No assets have been disposed by the company during the year. Therefore reporting under this clause does not arise.

2 As the Company did not carry on any manufacturing and trading activity during the year, clauses (a), (b), (c ) of the aforesaid order are not applicable to the company.

3. The company had not granted nor taken any loans, secured or unsecured to /from companies, firm or other parties covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly Sub - clause (b),(c) and (d) are not applicable to the company.

4 In our opinion and according to die information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and nature of its business. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal controls.

5. During the year, there is no transaction that needs to be entered into the register maintained under section 301 of the Act.

6. The company has not accepted any deposits from the public; hence question of complying with the provision of the section 58A.A of the Companies Act, 1956 and Rules made there under does not. arise. Hence, the provisions of clause (vi) of the order is not applicable.

7. In our opinion and according to the information and explanations given to us, we report that, the stipulation regarding an internal audit is not applicable to the company.

8 In respect of statutory dues:

a) According to the records of the company, the Provident Fund and Employees State insurance, Income Tax, Sales Tax, Wealth Tax, Cess and other material statutory dues have been regularly depositing during the year with appropriate authorities.

b) There are no disputed statutory dues outstanding against the company.

9. There arc no outstanding dues to any Institutions or Banks.

10. Based on our examination, of the records and the information and explanations given to us, the Company has not granted ant loans and / or advance on the basis of security by way of pledge of shares, debentures and other securities.

11. The company is not a Chit Fund. Nidhi, Mutual Benefit fund or a society.

12. During the year, the Company has not dealt in dealing and trading of shares, securities, debenture and other investments. All share sans other securities held as investments by the company have been held in it's own name.

13. According to the information and explanations given to us, the Company has not given any guarantees for loans taken by others from bank or financial institutions.

1.4. No term loans were acquired during the year by the company. Therefore reporting under this clause does not arise.

15. In our opinion the company has financed, the long-term investment from internal accruals and therefore reporting under this clause does not arise.

16. The Company has not made any preferential allotment of the shares during the year.

17. During the year covered by our audit report the Company has not issued any secured debenture.

IS. The Company has not raised any money by public issues during the year covered by our report.

19. As per 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 A.F.KHASGIWALA & CO. 
                                        Firm Registration No.; 105114W  
                                                 Chartered Accountants

Place: Mumbai,                               A.F. Khasgiwala
                                                   Partner
Dated : 30/05/2014                        (Membership No. 006491)