Auditor Report of Available Finance Ltd.

Mar 31, 2024

TO THE MEMBERS OF AVAILABLE FINANCE LIMITED

REPORT ON THE AUDIT OF THE STANDALONE FINANCIAL STATEMENTS

OPINION

We have audited the accompanying Standalone Financial Statements of AVAILABLE FINANCE LIMITED ("the Company"), which comprise the Balance Sheet as at March 31, 2024, the Statement of Profit and Loss (Including OiheT Comprehensive Income), the Statement of Changes In Equity and the Statement of Cash Flows for the year then ended and notes to the Financial Statements including a summary of significant accounting policies and other explanatory information (hereinafter referred to as "Standalone Financial Statements"),

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 Companies Act, 2013 ("the Act") in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India including the Indian Accounting Standards find AS"), of the state of affairs of the Company as at March 31, 2024, its total comprehensive income, changes In equity and its cash flows for the year ended on that date.

BASIS FOR OPINION

We conducted our audit in accordance with Standards on Auditing (SAs) specified under section 143(10) of the Act, Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics Issued by the Institute of Chartered Accountants of India ("iCAn together with the ethical requirements that are relevant to Our audit of the Financial Statements under the provisions of the Act and Rules there under and we have fulfilled our other ethical responsibilities in accordance with these requirements end the Code of Ethics. We believe that the audit evidence we have obtained Is sufficient and appropriate to provide a basis for our opinion,

KEY AUDIT MATTERS

Key audit matters are those matters that, In our professional judgment, were of most significance in our audit of the Standalone Financial Statements of the current period. These matters were addressed tn the context of our audit of the Standalone Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

INFORMATION OTHER THAN THE FINANCIAL STATEMENTS AND AUDITOR S REPORT THEREON

The Company''s board of directors is responsible for the preparation of the other Information. The other Information comprises the information Included in Board''s Report including Annexure to Board''s Report and management compliance Certificate but docs not Include the Standalone Financial Statements and our auditor''s report thereon.

Our opinion on the Standalone Financial Statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the Financial Statements, our responsibility is to read the other information and. In doing so_r consider whether the other information is materially inconsistent with the Standalone Financial Statements, or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated.

If based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact, We have nothing to report in this regard,

RES PONS I BfL [TIES OF MANAGEMENT AND THOSE CHARGED WITH GOVERNANCE FOR THE FINANCIAL STATEMENTS

The Company''s Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these Standalone Financial Statements that give a true and fair view of the financial position, financial performance including other comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, induding Indian Accounting Standard specified under section 133 of the Act, read with releva pt rules issued there under. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of tne 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 Standalone Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Standalone Financial Statements, management is responsible for assessing the Company''s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so,

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The Board of Directors is also responsible for overseeing the Company''s financial reporting process.

Our objectives are to obtain reasonable assurance about whether the Standalone financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor''s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, Individually or In the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone Financial Statements.

As part of an audit in accordance with Standard on Auditing-, we exercise professional judgment and maintain professional skepticism throughout the audit We also:

* Identify and assess the risks of material misstatements of the Standalone Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud Is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control,

* Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, Under section 143(3) (i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial Statements in place and the operating effectiveness of such controls.

* Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

* Conclude on the appropriateness of management''s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company''s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor''s report to the related disclosures in the Standalone Financial Statements or, if such disclosures are inadequate, to modify our opinion, Our conclusions are based on the audit evidence obtained up to the date of our auditor''s report. However, future events or conditions may cause the Company to cease to continue as a going concern,

* Evaluate the overall presentation, structure and content of the Standalone Financial Statements, Including the disclosures, and whether the Standalone Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control

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that we identify during our audit,

We also provide those charged with governance with a Statements that we bay^^irrofiednfwto relevant

ethical requirements regarding independence, and to communicate with them at?other

¹ 1 i ^s ,i * J/

matters that may reasonably be thought to bear on our independence, and where applicable, related .safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Standalone Financial Statements of the current period and are therefore the key audit matters. We describe these matters in our auditor''s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated In our report because the adverse consequences of doing so would reasonably be expected to outweigh the public Interest benefits of such communication,

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1, As required by the Companies (Auditor''s Report) Order, 2020 ("the Order) issued by the Centrai Government of India in terms of sub-section [11) of section 143 of the Act, we give in the "Annexure A" a Statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent applicable.

2. As required by Section 143 (3) of the Act, based on our audit, we report that:

a) We have sought and obtained alf the information and explanations which: to the best of our knowledge end 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 Standalone Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income, Statement of Changes in Equity and the Cash Flow Statement dealt with by this report 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 the written representations received from the directors as on 31^![ March 2024, taken on record by the Board of Directors, none of the directors is disqualified as on 31^st March 2024 from being appointed as a director in terms of Section 164 (2) of the Act;

f) With respect to the adequacy of the internal financial controls over financial reporting of the

Company and the operating effectiveness of such controls, refer to our separate Report in ’''Annexure B ^J. _H

g) With respect to the other matters to be included in the Auditor''s R^^p^n^s^^lance with

the requirements of section 197(16) of the Act, as amended: //*/ VI \o\\

in our opinion and to the best of our information and according to the explanations given to us, the remuneration paid by the Company to its directors during the year is in accordance with the provisions of section 197 of the Act.

h) 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 io the best of our information and according to the explanations given to us:

i. The Company has discFosed the impact of pending litigations as of 31st March 2024 on its financial position in its financial statements - Refer Note 20 (3) to the financial Statements.

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

iri. The company is not required to transfer any amounts to the Investor Education and Protection Fund.

iv, (j) The management has represented that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any other personfs) or entity(ies), including foreign entitles f Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the intermediary shall, whether, directly or indirectly lend or Invest in other persons or entities identified in any manner whatsoever by or on behaif of the company ("Ultimate Beneficiaries") or provide any guarantee, security or the tike on behalf of the Ultimate Beneficiaries (if any);

(ii) The management has represented, that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been received by the company from any personfs) or entlty(les), including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries¹'') or provide any guarantee, security or the iike on behalf of the Ultimate Beneficiaries (if any); and

(iii) Based on such audit procedures that we (the auditors of the company) have considered reasonable and appropriate in the circumstances; nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) contain any material misstatements.

v. The company has not declared or paid any dividend during the yean

vi The company has used accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has been operated throughout the year for all transactions recorded In the software and the audit trail feature has not been tampered with and the audit trail has been preserved by the company as per the statutory requirements for record retention.

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Mar 31, 2015

We have audited the accompanying financial statements of M/s Available Finance Limited, which comprise the Balance Sheet as at March 31,2015, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

1. Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the 'matter stated in Section 134(5)of the Companies Act, 2013 with respect to the preparation and presentation of these standalone financial statements that give a true and fair view of the financial position, financial performance and cash flow of the company in accordance with the Accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Companies Act, 2013 read with Rule 7 of Companies(AccountsO 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 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.

2. Auditors'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 Companies Act, Accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the act and Rules made thereunder.

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 from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and 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 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, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. 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 for -our audit opinion on the standalone financial statements.

3. 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 of

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

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

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

4, Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2015 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 4 of the Order, to the extend applicable.

2. As required by section 143 (3) ofthe 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 purpose 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) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards specified under section 133 of the Companies Act read with Rule 7 of the Companies (Accounts) Rules, 2014

e) On the basis of written representations received from the directors, and taken on record by the Board of Director none of the directors is disqualified as on 31st March, 2015, from being appointed as a director in terms of section 164(2) of the Companies Act, 2013; and

f) with respect to other matters to be inc luded in the Auditors Report in accordance with Rule 11 of the companies (Audit and Auditors) Rule, 2014 in our opinion and to the best of our information and according to explanation given to us as at 31st March, 2015:

i. There was no company pending litigations impacting on companies financial position to disclose in its financial statements.

ii. There was no material foreseeable losses on long term contracts including derivative contracts requiring to make provision under the applicable law or accounting standards

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

ANNEXTJRE TO THE AUDITORS' REPORT OF AVAILABLE FINANCE LIMITED

The Annexure referred to un our independent Auditors Report to the members of the Company on the standalone financial statements for the year ended 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) The management at reasonable intervals has physically verified these fixed assets; and No discrepancies were noticed on such verification.

(ii) The company do not hold any inventory during the financial year, Hence clause ii (a), (b) & (c)is not applicable to the company.

(iii) The company had granted unsecured loan amounting to Rs 1745 lakhs to a Companies covered in the register maintained under section 189 of the Companies Act.

(a) Receipt of principal amount of the loan and interest on it were also regular.

(b) As per information and explanation given to us, there were no overdue amount as at the balance sheet date.

(iv) In our opinion and according to information and explanation given to us There is an adequate internal control procedure 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 and services. We have not observed any continuing failure to correct major weakness in internal control system.

(v) The company has not accepted deposits from the public, the directives issued by the Reserve Bank of India and the provisions of section 73 to 76 or any other relevant provisions of the Companies Act and the rules framed there under, arc not applicable to the company.

(vi) Central Government has not prescribed maintenance of cost records under clause sub section (1) of section 148 of the Companies Act.

(vii) (a) According to information and explanation given to us, The company is generally regular in depositing undisputed statutory dues, including provident fund, employee's state insurance, income tax, sales tax, wealth tax, service tax, duty of custom, duty of excise, value added tax, cess and any other statutory dues with the appropriate authorities to the extent payable by the company.

(b) According to the information and explanations given to us, there is no material dues in case of sales tax, wealth tax, service Tax, duty of customs, duty of excise, value added tax or cess which have not been deposited with the appropriate authorities on account of any dispute. However, in case of income tax, demand on account of Regular Assessment amounting to Rs. 16,85,850/-is payable asunder::

Name of statute Nature of Dues Amount Financial Year Forum where dispute is pending

IncomeTax Income Tax & Penalty 1685850/- 2011-12 Commissioner (AY 2012-13)of Appeals

(c) As per information and explanation given to us there was no amount required to be transferred to investor education and protection fund in accordance with relevant provisions of the Companies Act 1956 (1 of 1956) and rule made there under such fund.

(xi) There are no Accumulated losses of the company at the end of the financial year and it has not incurred cash losses in such financial year immediately preceding financial year also,

(xii) The company did not have any outstanding dues to financial dues to financial institutions or banks or debenture holders during the financial year.

(xiii) According to information and explanation given to us, The company has not given any guarantee for loans taken by others from bank or financial Institutions.

(xiv) Term Loan were applied for the purpose for which the loans were obtained;

(xv) According to information and explanation given to us, No fraud on or by the company has been noticed or reported during the year by the company.

For Jain Doshi & Co. Firm Reg. No. : 007365C Chartered Accountants,

Place: Indore Sd/- Date: 28/05/2015 (Dipentira Kumar Jain) Partner Membership No.: 076875

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Mar 31, 2014

We have audited the accompanying financial statements of M/s Available Finance Limited, which comprise the Balance Sheet as at March 31st, 2014, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

1. 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 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.

2. Auditors'' 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 from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and 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 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, but not for the purpose of expressing an opinion on the effectiveness of the company''s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the 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 for our audit opinion.

3. Opinion

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:

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

b) In the case of the Statement of Profit and Loss , of the profit 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.

4. Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2003 ("the Order") issued by the Central Government in terms of section 227(4A) of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

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 purpose 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, 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 Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards notified under the act (which continue to be applicable in respect of section 133 of Companies Act, 2013 in terms of General circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs);

e) On the basis of written representations received from the directors as on 31st March, 2014 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.

ANEXURE TO THE INDEPENDENT AUDITORS'' REPORT Referred to in paragraph 1 under the heading "Report on other legal and regulatory requirements" of our report of even date,

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

(b) The fixed assets were physically verified by the management during the year in accordance with a regular programme of verification, which in our opinion provides for physical verification of all the fixed assets at reasonable intervals. We are informed that no material discrepancies were noticed on such verification.

(c) No substantial part of fixed assets has been disposed off during the year.

(ii) The Company do not hold any inventory during the financial year. Hence clause II (a),(b),(c)&

(d) is not applicable to the company.

(iii) The Company has not granted / taken any loan to / from Companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Consequently, requirement of clauses (iii,b), (iii,c), (iii,d), (iii,e), (iii,f) and (iii,g) of paragraph 4 of the order are not applicable.

(iv) In our opinion and according to the information and explanations given to us, there exists an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of Inventory, fixed assets and for sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal controls.

(v) To the best of our knowledge and belief and according to the information and explanations given to us, we are of the opinion that there were no contracts or arrangements that needs to be entered in the register maintained under section 301 of the Companies Act, 1956. Consequently, requirement of clauses (v,a) and (v,b) of paragraph 4 of the order are not applicable.

(vi) According to information and explanation given to us, The company has not accepted any deposit from public. Directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA of the Companies Act and rules framed there under, are not applicable to the company.

(vii) In our opinion, the company has an internal audit system commensurate with the size of the Company and the nature of its business.

(viii) The Company is not engaged in production, processing, manufacturing or mining activities. Therefore, the provisions of clause (viii) of paragraph 4 of the order are not applicable.

(ix) (a) The Company is regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Income Tax, Wealth Tax, Service Tax, cess and other material 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, Service Tax, cess were in arrears as at March 31st, 2014 for a period of more than six months from the date they became payable.

(x) The Company neither has any accumulated losses nor has incurred any cash losses during the financial year covered by our audit and the immediately preceding financial year.

(xi) According to the information and explanations given to us, the Company has not defaulted in repayment of dues to a financial institution or banks or debenture holders.

(xii) The company has not granted loans and advances on the basis of securities by way of pledge of shares, debentures and other securities.

(xiii) The Company is not a chit fund or a Nidhi/mutual benefit fund/society. Therefore, the provisions of clause (xiii) of paragraph 4 of the order are not applicable.

(xiv) The company is dealing in securities for which proper records have been maintained of the transactions and contracts and timely entries have been made therein. Securities held by the company are held in the name of the company.

(xv) To the best of our knowledge and belief and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from bank or financial Institutions.

(xvi) To the best of our knowledge and belief and according to the information and explanations given to us, in our opinion, the company has not taken any term loans during the year.

(xvii) According to the Cash Flow Statement and other records examined by us and the information and explanations given to us, the Company has made long term investment in debenture of Rs. 500 lakhs from the funds raised on short term basis.

(xviii) According to the information and explanations given to us, the Company has not made any preferential allotment of shares during the year.

(xix) No debentures has been issued by the company.

(xx) The Company has not raised any money by public issue during the year.

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

i) Terms/Rights attached to equity shares

The Company has only one class of equity shares having a par value of-10 per share.

Member of the company holding equity share capital therein have a right to vote on every resolution placed before the company and right to receive dividend Each holder of equity shares is entitled to one vote per share.

The Company declares dividend(If any) in Indian rupees. The dividend proposed by the Board of Directors(If any) is subject to approval of the shareholder in the Annual General Meeting except in case of interim dividend.

For Jain Doshi & Co. Firm Reg. No. : 007365C Chartered Accountants,

Sd/- Place: Mumbai (Rakesh Kumar Jain) Date: 27/05/2014 Partner Membership No. : 075938

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Mar 31, 2013

We have audited the accompanying financial statements of Mfs Available Finance Limited, which comprise the Balance Sheet as at March 31, 2013 and the Statement of Profit Loss and Cash Row Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. .

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 (3C) of section 211 of the Companies Act, 1956. 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 orerror.

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 from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fmandal statements. The procedures selected depend on the auditor''s Judgment including the assessment of risks of material misstatement of the financial statement whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statement in order to design audt procedures that are appropriates in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by managementasweDasevaluatingtheoverallpresentationofthefinancialstatements.

We beleive that the audit evidence we have obtained is suficient and appropriate to provide a basis for our audit 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:

a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31,2013:

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

c) In the case of the Cash Flow Statements, of the cash flow for the year ended on that date.

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 give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the order.

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 purpose 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) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956,

e) On the basis of written representations received from the directors as on March 31,2013, and taken on record by the Board o Directors, none of the directors is disqualified as on March 31,2013 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act 1956.

f) 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.

ANEXURE TO THE AUDITOR''S REPORT OF AVAILABLE FINANCE LIMITED

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

(b) The management at reasonable intervals has physically verified these fixed assets; and No discrepancies were noticed on such verification.

(c) It is explained to us that none of fixed assets have been disposed off during the year.

(ii) The company do not hold any inventory during the financial year, Hence clause ii (a), (b) & (c) is not applicable to the company.

(iii) The company 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 Act.

(iv) There is an adequate internal control procedure 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.

v) As per information and explanation given to us No transaction needed to be entered in to a register in pursuance to section 301 of the Act.

(vi) The company has not accepted deposits from the public, the directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA of the Act and the rules framed there under, are not applicable to the company.

(vii) The Company has an internal audit system commensurate with its size and nature of its business.

(viii) Central Government has not prescribed maintenance of cost records under clause (d) of sub-section 209 of the Act.

(ix) (a) According to information and explanation given to us, The company is generally regular in depositing undisputed statutory dues, including provident fund, investor education and protection fund, employee''s state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, cess and any other statutory dues with the appropriate authorities to the extent payable by the company.

(b) According to the information and explanations given to us, No undisputed amount payable in respect of provident fund, investor education and protection fund, employee''s state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, cess and nay other statutory dues were outstanding as at 31st March 2013 for a period of more then six month from the date they become payable.

(x) As per information and explanation given to us. There is no disputed dues as on 31 st March, 2013.

(xi) There are no Accumulated losses of the company at the end of the financial year and it has not incurred cash losses in such financial year immediately preceding financial year also.

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

(xiii) The company has not granted loans and advances on the basis of securities by way of pledge of shares, debenture and other securities.

(xiv) We are informed that the provision of any special statute applicable to chit funds, Nidhi or Mutual Benefit Society do not apply to the company.

(xv) Proper records have been maintained of the transactions and contracts and timely entries have been made therein; also the shares, securities, debentures, and other securities that have been held by the company.

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

(xvii) Term Loan were applied for the purpose for which the loans were obtained;

(xviii) According to the information and explanation given to us and on an overall examination of Balance Sheet of the Company and the Cash Flow Statement, in our opinion funds raised on short-term basis have not been used for long-term investment.

(xviii) The company has not made preferential allotment of shares during the year to parties and companies covered in the register maintained under section 301 of the Act.

(xix) No Debenture has been issued by the company.

(xx) No money has been raised by public issues during the year by the company.

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

For Jain Doshi &Co.

Firm Reg. No.: 007365C

Chartered Accountants,

Place: Mumbai

Date: 27105/2013 Sd/-

(Rakesh Kumar Jain)

Partner

Memb. No.: 075938

---

Mar 31, 2012

We have audited the attached Balance Sheet of Available Finance Limited as at 31 st March 2012 and also the Profit and Loss Account of the company for the period ended on 31 st March 2012 and Cash Flow Statement for the year ended on that date. These financial statements are the responsibility of the Company's Management. 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 plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the Amounts and disclosures in the financial statement. 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.

Subject to the foregoing remark, we report that: -

1. As required by the companies (Auditors Report) Order, 2003 issued by the central Government of India in terms of Sec. 227 (4A) of the companies act, 1956, annex hereto a statement on the matters specified in paragraph 4 and 5 of the said order.

2. Further to our comments in the annexure referred to in paragraph above, 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 purpose of our audit;

b. In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books;

c. The balance sheet and Profit and Loss account and Cash Flow Statement dealt with by this report, are in agreement with the books of account;

d. In our opinion. The Profit & Loss Account, Balance Sheet Cash Flow Statement comply with the Accounting Standards referred to in Sub-section {3C) of section 211 of the Companies Act, 1956.

e. According to the information and explanation given to us and on the basis of written representation from the directors, taken on record by Board of Directors, none of the director is disqualified under section 274(1 )(g) of the Companies Act, 1956 from being appointed as a director as on 31 st March, 2012.

f. In our opinion and to the best of our information and according to the explanations given to us the said accounts, subject to our remarks given above and read together with significant accounting policies and notes on accounts and annexure thereto give the information required by the companies Act. 1956 in the manner so required and give a true and fair view:

(i) In the case of Balance Sheet, of the state of affairs of the company as at 31 st March, 2012; and

(ii) In the case of Profit and Loss Account, of the Profit for the year ended on that date.

(iii) In the case of Cash Flow statement of the cash flow for the year ended on that date.

ANEXURE TO THE AUDITOBS, REPORT OF AVAILABLE FINANCE LIMITED

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

(b) The management at reasonable intervals has physically verified these fixed assets; and No discrepancies were noticed on such verification.

(c) It is explained to us that none of fixed assets have been disposed off during the year,

(it) The company do not hold any inventory during the financial year. Hence clause ii (a), (b) & (c) is not applicable to the company.

(iii) The company 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 Act.

(iv) There is an adequate internal control procedure 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.

(v) (a) As per information and explanation given to us No transaction needed to be entered in to a register in pursuance to section 301 of the Act.

(vi) The company has not accepted deposits from the public, the directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA of the Act and the rules framed there under, are not applicable to the company.

(vii) The Company has an internal audit system commensurate with its size and nature of its business.

(viii) Central Government has not prescribed maintenance of cost records under clause (d) of sub-section 209 of the Act.

(ix) (a) The company is generally regularly deposited undisputed statutory dues, including provident fund, investor

education and protection fund, employee's state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, cess and any other statutory dues with the appropriate authorities to the extent payable by the company. According to the information and explanations given to us no undisputed amounts were outstanding as at 31st March 2012 for a period of more then six month from the date of becoming payable.

(b) As at 31st March, 2012 according to records of the company and information and explanation given to us. Following are the particulars of dues on account of Income Tax matter that have not been deposited on account of dispute :-

Amount Period to which the Forum where Sl No- Statute Nature of Dues (Rs.in Lacs) amount relates F.Y. pending

01. Income Tax Additions 255060/- 2006-07 Income Tax

Appellate Tribunal, Mumbai Banches 'A', Mumbai

Appeals of the company has been accepted by the tribunal vide its order dated 2nd May, 2012.

(x) There are no Accumulated losses of the company at the end of the financial year and it has not incurred cash fosses in such financial year immediately preceding financial year also.

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

(xii) The company has not granted loans and advances on the basis of securities by way of pledge of shares, debenture and other securities.

(xiii) We are informed that the provisions of any Special statute applicable to Chit funds, Nidhi or Mutual Benefit Society do not apply to the company.

(xiv) Proper records have been maintained of the transactions and contracts and timely entries have been made therein; also the shares, securities, debentures, and other securities that have been held by the company.

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

(xvi) Term Loan were applied for the purpose for which the loans were obtained;

(xvii) According to the information and explanation given to us and on an overall examination of Balance Sheet of the Company and the Cash Flow Statement, in our opinion funds raised on short term basis have not been used for long- term investment.

(xviii) Preferential allotment of shares of the company has not been made to parties and companies covered in the Register maintained under section 301 of the Act and the price at which shares has been issued is not prejudicial to the interest of the company;

(xix) No Debenture has been issued by the company.

Ixx) No money has been raised by public issues during the year by the company.

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

For Jain Doshi & Co. Firm Reg. No.: 007365C

Chartered Accountants,

Place: Mumbai

Date: 24/08/2012

Sd/-

(Rakesh Kumar Jain) Partner Memb. No.: 075938

---

Mar 31, 2010

We have audited the attached Balance Sheet of Available Finance Limited as at 31 st March 2010 and also the Profit and Loss Account of the company for the period ended on 31 st March 2010 and Cash Flow Statement for the year ended on that date. These financial statements are the responsibility of the Companys Management. 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 plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the Amounts and disclosures in the financial statement. 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.

Subject to the foregoing remark, we report that :-

1. As required by the companies (Auditors Report) Order, 2003 issued by the central Government of India in terms of Sec. 227 (4A) of the companies act, 1956, annex hereto a statement on the matters specified in paragraph 4 and 5 of the said order.

2 Further to our comments in the annexure referred to in paragraph above, 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 purpose of our audit;

b. In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books ;

c. The balance sheet and Profit and Loss account dealt with by this report, are in agreement with the books of account;

d. In our opinion, The Profit & Loss Account and Balance Sheet comply with the Accounting Standards referred to in Sub section (3C) of section 211 of the Companies Act, 1956.

e. According to the information and explanation given to us and on the basis of written representation from the directors, taken on record by Board of Directors, none of the director is disqualified under section 274(1) (g) of the Companies Act, 1956 from being appointed as a director as on 31st March, 2010.

f. In our opinion and to the best of our information and according to the explanations given to us the said accounts, subject to our remarks given above and read together with significant accounting policies and notes on accounts and annexure thereto give the information required by the companies Act. 1956 in the manner so required and give a true and fair view:

(i) In the case of Balance Sheet, of the state of affairs of the company as at 31st March, 2010; and

(ii) In the case of Profit and Loss Account, of the Profit for the year ended on that date,

(iii) In the case of Cash Flow statement of the cash for the year ended on that date.

ANEXURE TO THE AUDITORS REPORT OF AVAILABLE FINANCE LIMITED

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

(b) The management at reasonable intervals has physically verified these fixed assets; and no Discrepancies were noticed on such verification.

(c) It is explained to us that none of fixed assets have been disposed off during the year,

(ii) (a) The securities held as stock in trade have been physically verified by the management at the financial year end. In our opinion, the frequency of physical verification is reasonable.

(b) In our opinion, the procedures of physical verification of securities held as stock in trade followed by the Management are reasonable and adequate in relation to the size of the Company and the nature of its business.

(c ) On the basis of our examination of the records of the company relating to securities held as stock in trade, in our opinion, the company has maintained proper records of stock in trade and no material discrepancies between the book records and physical verification have been noticed.

(iii) The company 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 Act.

(iv) There is an adequate internal control procedure 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.

(v) (a) As per information and explanation given to us No transaction needed to be entered in to a register in pursuance to section 301 of the Act.

(vi) The company has not accepted deposits from the public, the directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA of the Act and the rules framed there under, are not applicable to the company.

(vii) The Company has an internal audit system commensurate with its size and nature of its business.

(viii) Central Government has not prescribed maintenance of cost records under clause (d) of subsection 209 of the Act.

(ix) (a) The company is generally regularly deposited undisputed statutory dues, including provident fund, investor education and protection fund, employees state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, cess and any other statutory dues with the appropriate authorities to the extent payable by the company. According to the information and explanations given to us no undisputed amounts were outstanding as at 31st March 2010 for a period of more then six month from the date of becoming payable.

(b) As at 31 st March, 2010 according to records of the company and information and explanation given to us. Following are the particulars of dues on account of Income Tax matter that have not been deposited on account of dispute :-

S. Statute Nature of Dues Amount No. (Rs.in Lacs)

01. Income Tax Additions 195624

S. Statute Period to which the Forum where No. amount relates pending

1. Incpm Tax 2006-07 CIT Appeals,

fMumbai

(x) There are no Accumulated losses of the company at the end of the financial year and it has not incurred cash losses in such financial year immediately preceding financial year also.

(xi) The company has not any liability payable to Financial Institution, Banks or Debenture holder.

(xii) The company has not granted loans and advances on the basis of securities by way of pledge of shares, debenture and other securities.

(xiii) We are informed that the provisions of any Special statute applicable to Chit funds, Nidhi or Mutual Benefit Society do not apply to the company.

(xiv) Proper records have been maintained of the transactions and contracts and timely entries have been made therein; also the shares, securities, debentures, and other securities that have been held by the company.

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

(xvi) No term loans were taken by the company.

(xvii) No funds raised by the company on short-term basis.

(xviii) The company has not made any preferential allotment of shares during the year.

(xix) No Debenture has been issued by the company.

(xx) No money has been raised by public issues during the year by the company.

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



For Rakesh Narendra Kumar & Co.

Firm Registration No.: 007365C

Chartered Accountants,



Sd/-

Place : Mumbai (Rakesh Kumar Jain)

Date: 06th July, 2010 Partner

Membership No.: 075938

---

Mar 31, 2004

We have audited the attached Balance Sheet of Available Finance Limited as at 31st March 2004 and also the Profit and Loss Account of the company for the period ended on 31 st March 2004. These financial statements are the responsibility of the Companys Management. 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 plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the Amounts and disclosures in the financial statement. 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.

Subject to the foregoing remark, we report that: -

5. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government of India in terms of Sec. 227 (4A) of the companies act, 1956, annex hereto a statement on the matters specified in paragraph 4 and 5 of the said order.

6. Further to our comments in the annexure referred to in paragraph above, 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 purpose of our audit;

b. In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books;

c. The balance sheet and Profit and Loss account dealt with by this report, are in agreement with the books of account;

d. In our opinion, The Profit & Loss Account and Balance Sheet comply with the Accounting Standards referred to in Sub-section (3C) of section 211 of the Companies Act, 1956.

e. According to the information and explanation given to us and on the basis of written representation from the directors, taken on record by Board of Directors, none of the director is disqualified under section 274(1)(g) of the Companies Act, 1956 from being appointed as a director as on 31st March, 2004.

f. In our opinion and to the best of our information and according to the explanations given to us the said accounts, subject to our remarks given above and read together with significant accounting policies and notes on accounts and annexure thereto give the information required by the companies Act. 1956 in the manner so required and give a true and fair view:

(i) In the case of Balance Sheet, of the state of affairs of the company as at 31st March, 2004; and

(ii) In the case of Profit and Loss Account, of the Profit for the year ended on that date.

(iii) In so far as it relates to the Cash Flow Statement of the cash flow of the company for the year ended on that date.

ANEXURE TO THE AUDITORS REPORT OF AVAILABLE FINANCE LIMITED

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

(b)The management at reasonable intervals has physically verified these fixed assets; and no discrepancies were noticed on such verification.

(c) It is explained to us that none of fixed assets have been disposed off during the year.

ii. The company had not any inventory during the year therefore, sub clause (a), (b),(c) of clause (ii) regarding frequency of physical verification of inventory , procedure and adequacy of such verification, maintenance of records and discrepancies found on such verification are not applicable to the Company.

iii. The company 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 Act.

iv. There is an adequate internal control procedure 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.

v. (a) As per information and explanation given to us no transaction needed to be entered in to a register in pursuance to section 301 of the Act

vi. The company has not accepted deposits from the public, the directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA of the Act and the rules framed there under, are not applicable to the company.

vii. The company has an internal audit systems commensurate with its size and nature of its business.

viii. Central Government has not prescribed maintenance of cost records under clause (d ) of sub- section 209 of the Act.

ix. (a) The company is generally regularly deposited undisputed statutory dues, including providend fund, investor education and protection fund, employees state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, cess and any other statutory dues with the appropriate authorities to the extent payable by the company. According to the information and explanations given to us no undisputed amounts were outstanding as at 31st March 2004 for a period of more then six month from the date of becoming payable as per information and explanation given to us.

(b) There is no disputed statutory dues as on 31st March, 2004.

x. Accumulated losses of the company at the end of the financial year are less then fifty percent of its net worth and it has not incurred cash losses in such financial year immediately preceding financial year also.

xi. The Company has not owe any liability payable to Financial Institutions, Banks or Debenture holder.

xii. The company has not granted loans and advances on the basis of securities by way of pledge of shares, debenture and other securities.

xiii. We are informed that the provisions of any Special statute applicable to Chit funds, Nidhi or Mutual Benefit Society do not apply to the company.

xiv. Proper records have been maintained of the transactions and contracts and timely entries have been made therein; also the shares, securities, debentures ans other securities that have been held by the company in its own name.

xv. The company has not given any guarantee for loans taken by others from banks or financial institutions.

xvi. No term loans were taken by the company.

xvii. No funds raised by the company on short-term basis.

xviii. The company has not made any preferential allotment of shares.

xix. No Debenture have been issued by the company.

xx . No money has been raised by public issues during the year by the company.

xxi. No fraud on or by the company has been noticed or reported during the year by the company.

For Rakesh Narendra Kumar & Co. Chartered Accountants,

(Rakesh Kumar Jain) Partner Membership No.: 075938

Place : Mumbai Date : 28th June 2004

---

Mar 31, 2003

We have audited the attached Balance Sheet of Available Finance Limited as at 31st March 2003 and also the Profit and Loss Account of the company for the period ended on 31st March 2003. These financial statements are the responsibility of the Companys Management. 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 plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the Amounts and disclosures in the financial statement. 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.

Subject to the foregoing remark, we report that: -

1. As required by the manufacturing and other companies (Auditors Report) Order, 1988 issued by the company law board in terms of Sec. 227 (4A) of the companies act, 1956, annex hereto a statement on the matters specified in paragraph 4 and 5 of the said order.

2. Further to our comments in the annexure referred to in paragraph above, 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 purpose of our audit;

b. In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books;

c. The balance sheet and Profit and Loss account dealt with by this report, are in agreement with the books of account;

d. In our opinion. The Profit & Loss Account and Balance Sheet comply with the Accounting Standards referred to in Sub-section (3C) of section 211 of the Companies Act, 1956.

e. According to the information and explanation given to us and on the basis of written representation from the directors, taken on record by Board of Directors, none of the director is disqualified under section 274(1)(g) of the Companies Act, 1956 from being appointed as a director as on 31st March, 2003.

f. In our opinion and to the best of our information and according to the explanations given to us the said accounts, subject to our remarks given above and read together with significant accounting policies and notes on accounts and annexure thereto give the information required by the companies Act. 1956 in the manner so required and give a true and fair view:

(i) ln the case of Balance Sheet, of the state of affairs of the company as at 3lst March, 2003; and (ii) In the case of Profit and Loss Account, of the Profit for the year ended on that date. (iii) in the case of Cash Flow statement of the cash for the year ended on that date.

ANEXURE TO THE AUDITORS REPORT OF AVAILABLE FINANCE LIMITED

1. The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. The fixed assets of the company have been physically verified by the management at the end of the year and no discrepancies were noticed on such verification.

2. The fixed assets of the company have not been revalued during the year.

3. The stock-in-trade (Shares/Debenture/Other Securities) has been verified by the Management at reasonable intervals and no discrepancies were noticed on such verification. In our opinion, the method of valuation of such stock is fair and proper and in accordance with normally accepted accounting principles and is on the same basis as in previous year.

4. The company has not accepted any loans from companies, firms or other parties listed in the register maintained u/s 301 or 370 (1/B) of the companies act 1956.

5. The company has not granted any loans, secured or unsecured to companies, firms or other parties listed in the registers maintained u/s 301 or 370 (1B) of the companies act 1956.

6. The parties to whom loans have been given by the company are generally repaying the principal alongwith the interest due thereon as stipulated.

7. In our opinion company has adequate internal control commensurate with its size regarding purchase of Fixed and other assets.

8. During the year the company has not accepted any deposit from the public, which attract the provisions of section 58-A of the Companies Act. 1956

9. The Company has an internal audit system commensurate with its size and nature of Business.

10. In our opinion, there are adequate internal control systems commensurate with the size and nature of business of the company.

11. The provisions of Provident Fund Act are not applicable to the company.

12. In our opinion and according to the information and explanations given to us, there are no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, Customs duty and excise duty as at the last day of the financial year concerned for a period of more than 6 months from the date they become payable.

13. In our opinion and according to the information and explanations given to us, no personal expenses have been charges to revenue account other than those payable under contractual obligations or in accordance with generally accepted business practices.

14. According to the information and explanations given to us the company is keeping adequate records of loans and advances given.

15. In our opinion, in relation to the company s dealings in shares, securities debentures and other investments, proper records have been maintained of the transactions and contracts and timely entries have been made therein. Shares debentures and other securities are held by the company in its own name.

16. We are informed that the provisions of any Special statue applicable to Chit funds, Nidhi or Mutual Benefit Society do not apply to the company.

17. The company does not own any industrial undertaking therefore the provisions of sick industrial companies (special provisions) Act, 1985 do not apply to the company.

18. The other provisions of the manufacturing and other companies (Auditors Report) order, 1988 are not applicable for the year covered by the aforesaid accounts.

For Rakesh Narendra Kumar & Co. Chartered Accountants,

(Rakesh Kumar Jain) Partner

Place: Mumbai. Date : 19 August 2003

---

Mar 31, 2002

We have audited the attached Balance Sheet of Available Finance Limited as at 31st March, 2002 and also the Profit and Loss Account of the company for the period ended on 31st March, 2002. These financial statements are the responsibility of the Companys Management. 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 plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the Amounts and disclosures in the financial statement. 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.

Subject to the foregoing remark, we report that:-

1. As required by the manufacturing and other companies ( Auditors Report) Order, 1988 issued by the company law board in terms of Sec. 227 (4A) of the companies act, 1956, annex hereto a statement on the matters specified in paragraph 4 and 5 of the said order.

2. Further to our comments in the annexure referred to in paragraph above, 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 purpose of our audit;

b. In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books;

c. the balance sheet and Profit and Loss account dealt with by this report, are in agreement with the books of account;

d. In our opinion, The Profit & Loss Account and Balance Sheet comply with the Accounting Standards referred to in Sub-section (3C) of section 211 of the Companies Act,1956.

e. According to the information and explanation given to us and on the basis of written representation from the directors, taken on record by Board of Directors, none of the director is disqualified under section 274(1g) of the Companies Act, 1956 from being appointed as a director as on 31st March, 2002.

f. In our opinion and to the best of our information and according to the explanations given to us the said accounts, subject to our remarks given above and read together with significant accounting policies and notes on accounts and annexure thereto give the information required by the companies Act. 1956 in the manner so required and give a true and fair view:

(i) In the case of Balance Sheet, of the state of affairs of the company as at 31st March, 2002; and

(ii) In the case of Profit and Loss Account, of the Profit for the year ended on that date.

ANEXURE TO THE AUDITORS REPORT OF AVAILABLE FINANCE LIMITED

1. The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. The fixed assets of the company have been physically verified by the management at the end of the year and no discrepancies were noticed on such verification.

2. The fixed assets of the company have not been revalued during the year.

3. The stock-in-trade (Shares/Debenture/Other Securities) has been verified by the Management at reasonable intervals and no discrepancies were noticed on such verification . In our opinion, the method of valuation of such stock is fair and proper and in accordance with normally accepted accounting principles and is on the same basis as in previous year.

4. The company has not accepted any loans from companies, firms or other parties listed in the register maintained u/s 301 or 370 (l/B) of the companies act 1956.

5. The company has not granted any loans, secured or unsecured to companies, firms or other parties listed in the registers maintained u/s 301 or 370 (1B) of the companies act 1956.

6. The parties to whom loans have been given by the company are generally repaying the principal alongwith the interest due thereon as stipulated , In case of delays in repayment of principal and interest, where reasonable steps have been taken for the recovery by the company.

7. In our opinion company has adequate internal control commensurate with its size regarding purchase of Fixed and other assets.

8. During the year the company has not accepted any deposit from the public which attract the provisions of section 58-A of the Companies Act. 1956.

9. The Company does not have any internal audit system.

10. In our opinion, there are adequate internal control systems commensurate with the size and nature of business of the company.

11. The provisions of Provident Fund Act are not applicable to the company.

12. In our opinion and according to the information and explanations given to us, there are no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, Customs duty and excise duty as at the last day of the financial year concerned for a period of more than 6 months from the date they become payable.

13. In our opinion and according to the information and explanations given to us, no personal expenses have been charges to revenue account other than those payable under contractual obligations or in accordance with generally accepted business practices.

14. According to the information and explanations given to us the company is keeping adequate records of loans and advances given.

I5. In our opinion, in relation to the company s dealings in shares, securities debentures and other investments, proper records have been maintained of the transactions and contracts and timely entries have been made therein. Shares debentures and other securities are held by the company in its own name.

16. We are informed that the provisions of any Special statue applicable to Chit funds, Nidhi or Mutual Benefit Society do not apply to the company.

17. The company does not own any industrial undertaking therefore the provisions of sick industrial companies (special provisions) Act, 1985 do not apply to the company.

18. The other provisions of the manufacturing and other companies (Auditors Report) order, 1988 are not applicable for the year covered by the aforesaid accounts.

For Rakesh Narendra Kumar & Co. Chartered Accountants,

(Rakesh Kumar Jain) Partner

Place: Indore. Date : 12.08.2002

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Mar 31, 2001

We have audited the attached Balance Sheet of Available Finance Limited as at 31st March, 2001 and also the Profit and Loss Account of the company for the period ended on 31st March, 2001 annexed thereto and report that -

1. As required by the manufacturing and other companies Auditors Report) Order, 1988 issued by the company law board in terms of Sec. 227 (4A) of the companies act, 1956, annex hereto a statement on the matters specified in paragraph 4 and 5 of the said order.

2. Further to our comments in the annexure referred to in paragraph 1 above, 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 purpose of our audit.

b. In our opinion proper books of accounts as required by law have been kept by the company so far as appears from our examination of the books.

c. The balance sheet and Profit and Loss account dealt with by this report, are in agreement with the books of accounts.

d. In our opinion, The Profit & Loss Account and Balance Sheet complies with the Accounting Standards referred to in Sub section (3C) of section 211.

e. According to the information and explanation given to us and on the basis of written representation from the directors, taken on record by Board of Directors, none of the director is disqualified under section 274(1 )(g) of the Companies Act, 1956 from being appointed as a director as on 31st March, 2001 .

f. In our opinion and to the best of our information and according to the explanations given to us the said accounts, subject to our remarks given above and read together with significant accounting policies and notes on accounts and annexure thereto give the information required by the companies Act. 1956 in the manner so required and give a true and fair view :

i. in the case of Balance Sheet of the state of affairs of the company as at 31st March, 2001, and

ii. in the case of Profit and Loss Account of the Profit of the company for the year ended on that day.

ANEXURE TO THE AUDITORS REPORT OF AVAILABLE FINANCE LIMITED

1. The company has maintained proper records showing full particulars including quantitative details and situation of leased and other fixed assets. The fixed assets of the company have been physically verified by the management at the end of the year and no discrepancies were noticed on such verification.

2. The fixed assets of the company have not been revalued during the year.

3. The stock-in-trade ( Shares/Debenture/Other Securities) has been verified by the Management at reasonable intervals and no discrepancies were noticed on such verification . In our opinion, the method of valuation of such stock is fair and proper and in accordance with normally accepted accounting principles and is on the same basis as in previous year.

4. The company has not accepted any loans from companies, firms or other parties listed in the register maintained u/s 301 or 370 (1/B) of the companies act 1956.

5. The company has not granted any loans, secured or unsecured to companies, firms or other parties listed in the registers maintained u/s 301 or 370 (1B) of the companies act 1956.

6. The parties to whom loans have been given by the company are generally repaying the principal alongwith the interest due thereon as stipulated., In case of delays in repayment of principal and interest , where reasonable steps have been taken for the recovery by the company.

7. In our opinion company has adequate internal control commensurate with its size regarding purchase of Fixed and other assets.

8. During the year the company has not accepted any deposit from the public which attract the provisions of section 58-A of the Companies Act. 1956.

9. In our opinion, there are adequate internal control system commensurate with the size and nature of business of the company.

10. The provisions of Provident Fund Act are not applicable to the company.

11. In our opinion and according to the information and explanations given to

us, there are no undisputed amounts payable in respect of Income Tax , Wealth Tax, Sales Tax, Customs duty and excise duty as at the last day of the financial year concerned for a period of more than 6 months from the date they become payable.

12. In our opinion and according to the information and explanations given to us, no personal expenses have been charges to revenue account other than those payable under contractual obligations or in accordance with generally accepted business practices.

13. According to the information and explanations given to us the company is keeping adequate records of loans and advances given against the security of pledge of shares, debentures and other securities

14. In our opinion, in relation to the company s dealings in shares, securities debentures and other investments, proper records have been maintained of the transactions and contracts and timely entries have been made therein. Shares debentures and other securities are held by the company in its own name except to the extent shares & debentures which are either lodged for transfer in the name of the company or are held with valid transfer forms.

15. We are informed that the provisions of any Special statue applicable to Chit funds, Nidhi or Mutual Benefit Society do not apply to the company.

16. The company does not own any industrial undertaking therefore the provisions of sick industrial companies (special provisions) Act, 1985 do not apply to the company.

17. In our opinion, other provisions of the manufacturing and other companies (Auditors Report) order, 1988 are not applicable for the year covered by the aforesaid accounts.

For Rakesh Narendra Kumar & Co. Chartered Accountants,

(Rakesh Kumar Jain) Partner

Place : Indore. Date : 24.8.2001

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Mar 31, 2000

We have audited the attached Balance Sheet of Available Finance Limited as at 31st March, 2000 and also the Profit and Loss Account of the company for the period ended on 31st March, 2000 annexed thereto and report that -

1. As required by the manufacturing and other companies Auditors Report) Order, 1988 jewed by the coapany law board in terms of Sec. 227 (4A) of the companies act, 1956, annex hereto a statement on the matters specified in paragraph 4 and 5 of the said order.

2. Further to our comments in the annexure referred to in paragraph 1 above, 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 purpose of our audit

b. In our opinion proper books of accounts as required by law have been kept by the company so far as appears from our examination of the books.

c. The balance sheet and Profit and Loss account dealt with by this report, are in agreement with the books of accounts.

d. Subject to our remarks given below in point No. (e), in our opinion , The Profit & Loss Account and Balance Sheet complies with the Accounting Standards referred to in Sub section (3C) of sectiong 211.

e. In our opinion and to the best of our information and according to the explanations given to us the said accounts , subject to our remarks given above and read together with significant accounting policies and notes on accounts and aneexure thereto give the information required by the companies Act 1956 in the manner so required and give a true and fair view:

i. In the case of Balance Sheet of the state of affairs of the company as at 31st March, 2000.

ii. in the case of Profit and Loss Account of the Loss of the company for the year ended on that day.

ANEXURE TO THE AUDITORS REPORT OF AVAILABLE FINANCE LIMITED

1. The company has maintained proper records showing full particulars including quantitative details and situation of leased and other fixed assets. The fixed assets of the company have been physically verified by the management at the end of the year and no discrepancies were noticed on such verification.

2. The fixed assets of the company have not been revalued during the year.

3. The stock-in-trade (Shares/Debenture/Other Securities) has been verified by the Management at resonable intervals and no descripancies were noticed on such verification. In our opinion, the method of valuation of such stock is fair and proper and in accordance with normally accepted accounting principles and is on the same basis as in previous year.

4. The company has not accepted any loans from companies, firms or other parties listed in the register maintained u/s 301 or 370 (1/B) of the companies act 1956.

5. The company has not granted any loans, secured or unsecured to companies, firms or other parties listed in the registers maintained u/s 301 or 370 (1B) of the companies act 1956.

6. The parties to whom loans have been given by the company are generally repaying the principal along with the interest due thereon as stipulated, In case of delays in repayment of principal and interest, where resonable steps have been taken for the recovery by the company.

7. In our opinion company has adequate internal control commensurate with its size regarding purchase of Fixed and other assets.

8. During the year the company has not accepted any deposit from the public which attract the provisions of section 58-A of the Companies Act 1956.

9. In our opinion, there are adequate internal control system commesurate with the size and nature of business of the company.

10. The provisions of Provident Fund Act are not applicable to the company.

11. In our opinion and according to the information and explanations given to us, there are no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, Customs duty and excise duty as at the last day of the financial year concerned for a period of more than 6 months from the date they become payable.

12. In our opinion and according to the information and explanations given to us, no personal expenses have been charges to revenue account other man those payable under contractual obligations or in accordance with generally accepted business practices.

13. According to the information and explanations given to us the company is keeping adequate records of loans and advances given against the security of pledge of shares, debuntures and other securities

14. In our opinion, in relation to the company s dealings in shares, securities debuntures and other investments, proper records have been maintained of the transactions and contracts and timely entries have been made threin. Shares debuntures and other securities are held by the company in its own name except to the extent shares & debuntures which are either lodged for transfer in the name of the company or are held with valid transfer forms.

15. We are informed that the provisions of any Special statue applicable to Chit funds, Nidhi or Mutual Benefit Society do not apply to the company.

16. The company does not own any industrial undertaking therefore the provisions of sick industrial companies (special provisions) Act, 1985 do not apply to the company.

17. The other provisions of the manufacturing and other companies (Auditors Report) order, 1988 are not applicable for me year covered by the aforesaid accounts.

For RakeshNarendra Kumar & Co. Chartered Accountants,

(Rakesh Kumar Jain) Partner

Place: Indore. Date : 18.8.2000