Auditor Report of Bloom Industries Ltd.

Mar 31, 2024

We have audited the Ind AS financial statements of Bloom Industries Limited (“the
Company”) which comprise the Balance Sheet as at March 31, 2024. the Statement of Profit
and Loss, Statement of Changes in Equity, and statement of cash flow for the year ended,
including notes to the financial statements, and a summary of significant accounting policies
and other explanatory information.

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 Indian Accounting Standards prescribed under section 133 of the Act read with the
Companies (Indian Accounting Standards) Rules, 2015, as amended (“Ind AS”) and other
accounting principles generally accepted in India, of the state of affairs of the Company as at
31st March 2024, and the profit and 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 the Standards on Auditing (SAs) specified under
section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are
further described in the Auditor''s 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 together with the ethical
requirements that are relevant to our audit of the financial statements under the provisions of
the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the Code of Ethics. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our opinion on the financial statements.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most
significance in our audit of the financial statements of the current period. We have determined
that there are no key audit matters to communicate in our report.

Information Other Than the Financial Statements and Auditor’s Report thereon

The Company''s management and Board of Directors are responsible for the other information.
The other information comprises the information included in the Company''s annual report, but
does not include the standalone financial statements and our auditor''s report thereon.

Our opinion on the 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, consider whether the other information is materially inconsistent
with the standalone financial statements or our knowledge obtained in the 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.

Responsibilities 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 Companies Act, 2013 with respect to the preparation of these financial statements that
give a true and fair view of the financial position, financial performance and cash flows of
the Company in accordance with the accounting principles generally accepted in India,
including the Accounting Standards specified under Section 133 of the Act, read with Rule 7
of the Companies (Accounts) Rules, 2014.

This responsibility also includes maintenance of adequate accounting records in accordance
with the provisions of the Act for safeguarding of the assets of the Company and for
preventing and detecting frauds and other irregularities; selection and application of
appropriate accounting policies; making judgments and estimates that are reasonable and
prudent; and design, implementation and maintenance of adequate internal financial controls,
that were operating effectively for ensuring the accuracy and completeness of the accounting
records, relevant to the preparation and presentation of the financial statements that give a
true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the 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.

The Board of Directors are also responsible for overseeing the Company’s financial reporting
process.

Auditor''s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the 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 financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the 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
Companies Act. 2013, we are also responsible for expressing our opinion on whether the
company has adequate internal financial controls system 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 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 financial statements, including
the disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the standalone financial statements that,
individually or in aggregate, makes it probable that the economic decisions of a reasonably
knowledgeable user of the standalone financial statements may be influenced. We consider
quantitative materiality and qualitative factors in (i) planning the scope of our audit work and
in evaluating the results of our work; and (ii) to evaluate the effect of any identified
misstatements in the standalone financial statements.

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 that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with
relevant ethical requirements regarding independence, and to communicate with them all
relationships and other 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 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 Central Government in terms of Section 143(11) of the Act, we give in “Annexure
A" a statement on the matters specified in paragraphs 3 and 4 of the Order.

2 As required by section 143(3) of the Act, we report that:

a. We have sought and obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the 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 it appears from our examination of those books.

c. The Balance Sheet, Statement of Profit and Loss and statement of change in
equity and the statement of cash flow dealt w''ith by this Report are in agreement
w ith the books of account maintained.

d. In our opinion, the aforesaid financial statements comply with Accounting
Standards specified under section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014.

e. On the basis of written representations received from the directors as on March
31, 2024 taken on record by the Board of Directors, none of the directors is
disqualified as on March 31, 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 with reference to
financial statements of the Company and the operating effectiveness of such
controls, refer to our separate Report in “Annexure B”. Our report expresses an
unmodified opinion on the adequacy and operating effectiveness of the
Company’s internal financial controls with reference to financial statements.

g. With respect to the other matters to be included in the Auditor’s Report in
accordance with the requirements of section 197(16) of the Act, as amended:

In our opinion and to the best of our infonnation 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 to the best of our infonnation and according to the
explanations given to us:

(i) The Company has disclosed the impact of any pending litigations which
would impact its financial position - Refer Note 19.

(ii) The Company did not have any long tenn contracts including derivative
contracts for which there were any material foreseeable losses.

(iii) There has been no delay in transferring amounts, required to be
transferred, to the Investor Education and Protection Fund by the

mmnnnv

(iv)

a. The management has represented that, to the best of its knowledge and
belief, 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 persons or entities, including
foreign entities (“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 behalf of the company
(“Ultimate Beneficiaries”) or provide any guarantee, security or the
like on behalf of the Ultimate Beneficiaries.

b. The management has represented, that, to the best of its knowledge and
belief, no funds have been received by the Company from any persons
or entities, including foreign entities (“Funding Parties”), with the
understanding, whether recorded in writing or otherwise, that the
Company shall, directly or indirectly, lend or invest in other persons
or entities identified in any manner whatsoever (“Ultimate
Beneficiaries”) by or on behalf of the Funding Party or provide any
guarantee, security or the like from or on behalf of the Ultimate
Beneficiaries; and

c. Based on such audit procedures as 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 (a)
and (b) contain any material misstatement.

(v) No dividend has been declared or paid during the year by the company.

(vi) Based on our examination which included test checks, the company has
used accounting software for maintaining books of account which has a
feature of recording audit trail (edit logs) facility and the same has operated
throughout the year for all the relevant transaction recorded in the
software. Further, during the course of our Audit we did not come across
any instance of audit trail feature being tampered with.

For Tibrewal Chand & Co

Chartered Accountants
Firm Regn.No.: 311047E
Sd/-

Krishna Agarwal

Partner

Place: Rourkela Membership Number: 313562

Date: 29.05.2024 UDIN: 24313562BKGEFW3209

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Mar 31, 2014

We have audited the accompanying financial statement of Bloom Industries Limited ("the Company"), which comprise the Balance Sheets as at March 31,2014, 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.

Management is responsible for the preparation of these financial statement 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 ("the Act").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.

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 judgments, 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. 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.

In our opinion and to the best of our information and according to the explanations given to us, the annexed accounts read with the Wofes thereon given in notes No. 2.09, give the information required by the Act in the manner so required except provision for liability towards leave salary and gratuity of employees is accounted for on cash basis, which is not in conformity with accounting standard 15 on "Accounting of Retirement Benefit to Employees:.

Subject to the above observation and read with notes thereon in Notes No."2.09" the said accounts give a true and fair view :-

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

b) in the case of the 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.

1. As required by the Companies (Auditor''s Report) Order, 2003 ("the Order") 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

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; Except AS 15 on "Accounting on Retirement Benefit to Employees" which is on cash basis.

e) On the basis of written representations received from the directors as on March31,2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as 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.

Annexure Referred to in paragraph (2) of our report of even date on the accounts for the year ended 31 st March, 2014 of BLOOM INDUSTRIES LIMITED.

1. In respect of its fixed assets:

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

b) All the assets have been physically verified by the management during the year, There is regular programme of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. According to the information and explanation given to us, no material discrepancies have been noticed on such verification.

c) The company has not disposed off a substantial part of fixed assets during the year.

2. In respect of its inventories:

(a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable.

(b) In our opinion, the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business.

(c) The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification as compared to book records.

3. In respect of loans granted to parties covered in the register maintained u/s 301 of the Companies Act, 1956.

(a) The company has granted loans to four parties covered in the register maintained under sections 301 of the Companies Act, 1956. The amount involved during the year was Rs. 145.17 Lacs and the year-end balance of loans granted to such parties was Rs. 131.03 Lacs.

(b) In our opinion the rate of interest & other terms and conditions on which loan have been granted to the companies listed in the register maintained under Section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the Company.

(c) The party to whom loans have been granted are regular in repaying the principal amount & interest as stipulated in the terms & conditions.

(d) There is no overdue amount of loan granted to the parties listed in the register maintained under Section 301 of the Companies Act, 1956.

In respect of loans taken from parties covered in the register maintained u/s 301 of the Companies Act, 1956.

e) The company has nor taken any secured or unsecured loans from any Company or party covered in the register maintained under Section 301 of the Companies Act, 1956. In view of this clause 4 iii(e), 4 iii(f), 4 iii (g) of the order are not applicable to the Company.

4. In respect of internal control:

In our opinion and according to the explanations given to us, there are adequate internal control system commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and sale of goods and services. During the course of the audit we have not observed any continuing failure to correct major weaknesses in internal control system.

5. In respect of transactions need to be entered into a register maintained u/s 301 of the Companies Act, 1956.

(a) According to the information and explanation given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanation given to us, the transaction made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of rupees five lakhs in respect of any party during the year have been made at price which are reasonable having regard to prevailing market prices at the relevant time.

6. In respect of deposits from public

The Company has not accepted deposits from the public. As such, the question of complying with the directives issued by the Reserve Bank of India and the provisions of Section 58A of the Companies Act, 1956 and rules framed thereunder does not arise.

7. In respect of internal audit system

In our opinion, The company has an adequate internal Audit system commensurate with its size and nature of its business.

8. In respect of maintenance of cost records

In the present case, the Central Government has not prescribed the maintenance of the cost records under section 209(1) (d) of the Companies Act, 1956. As such, the question of reviewing the books of account to be maintained by the company pursuant to such an order does not arise.

9. In respect of statutory dues:

(a) According to the information and explanations given to us, the Company is regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, investor Education and Protection Fund, Employees State Insurance, Income-Tax, Sales Tax, Service Tax, Wealth Tax, Fringe Benefit Tax, Customs Duty, Excise Duty, Cess and other material statutory dues applicable to it.

(b) According to the information and explanations given to us, no undisputed amount payable in respect of Income Tax, wealth tax, sale tax, customs duty, excise duty, service tax, and cess were in arrears, as at 31" March 2014 for a period of more than six months from the date they became payable. Except Service Tax & Cess amounting of Rs.2,21,620/- and professional tax amounting to Rs. 36,350/-

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

10. In respect of accumulated losses and cash losses

The Company has accumulated losses at the end of the year however it is less than fifty percent of its net worth. The Company has not incurred cash loss during the year as well as in the immediately preceding financial year.

11. In respect of dues to financial institution/banks/debentures

According to the information and explanation given to us and as per the our verification of records of the company, the Company has not defaulted in repayment of dues to any financial institution, banks or debenture holders as at the Balance Sheet date.

12. In respect of loans and advances granted on the basis of security

As informed to us, the company has not granted any loans and advances on the basis of security by way of pledge on any shares, debentures and other securities, therefore, the provisions of clause 4(xii) of the companies (Auditor''s Report) Order 2003 are not applicable to the Company.

13. In respect of chit fund or a nidhi mutual benefit

In Our opinion, the Company is not a chit fund or a nidhi mutual benefit fund /society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor''s Report) Order 2003 are not applicable to the Company.

14. In respect of dealing ortrading in shares, securities, debentures and other investments.

The Company is not dealing or trading in shares, securities, debentures and other investment. Therefore, the provisions of clause 4(xiv) of the Companies (Auditor''s Report) Order 2003 are not applicable to the Company

15. In respect of guarantee given for loan taken by others

The Company has given a guarantee for amounting to Rs.150 Lakhs to Kotak Mahindra Bank Ltd. for loans taken by a director. In our opinion the terms and conditions on which guarantee have been given are not, prima facie, prejudicial to the interest of the Company.

16. In respect of term loans taken

The term loan raised during the year and out standing at the beginning of the year was applied for the purpose for which it was taken.

17. In respect of fund used

According to the information and explanations given to us and overall examination of the Balance Sheet of the Company, we report that no fund raised on short term basis have been used for long term investments.

18. In respect of preferential allotment of shares

The Company has not made any preferential allotment of shares during the year under review. Therefore, the provisions of clause 4(xviii) of the Companies (Auditor''s Report) Order 2003 are not applicable to the Company.

19. In respect of securities created for debentures

The Company has not issued any debentures. Therefore, the provisions of clause 4(xix) of the Companies (Auditor''s Report) Order 2003 are not applicable to the Company.

20. In respect of end use of money raised by public issue

During the year under review, The Company has not raised any money by way of public issues. Hence the question of verification of end use of money raised in public issue as per the provision of clause 4(xx) of the companies (Auditor''s Report) Order 2003 does not arise.

21. In respect of fraud

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

Place :Mumbai Dated : 28/05/2014

For SARDA SONI ASSOCIATES Chartered Accountants Firm Reg. No. 117235

MANOJJAIN PARTNER M.No.120788

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Mar 31, 2013

We have audited the accompanying financial statement of Bloom Industries Limited ("the Company"), which comprise the Balance Sheets as at March 31,2013, 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.

Management is responsible for the preparation of these financial statement 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 ("the Act").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.

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 judgments, 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. 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.

In our opinion and to the best of our information and according to the explanations given to us, the annexed accounts read with the Notes thereon given in notes No. 17, give the information required by the Act in the manner so required except provision for liability towards leave salary and gratuity of employees is accounted for on cash basis, which is not in conformity with accounting standard 15 on "Accounting of Retirement Benefit to Employees:.

Subject to the above observation and read with notes thereon in Notes No."17" the said accounts give a true and fairview:-

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 Accou nt, 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.

1. As required by the Companies (Auditor''s Report) Order, 2003 ("the Order") 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 ou r 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; Except AS 15 on "Accounting on Retirement Benefit to Employees" which is on cash basis.

e) On the basis of written representations received from the directors as on March31, 2013, and taken on record by the Board of Directors, none of the directors is disqualified as on

March 31, 2013, from being appointed as 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.

Annexure Referred (o in paragraph (2) of our report of even dale on the accounts for the year ended 31s'' March, 2013 of BLOOM INDUSTRIES LIMITED.

1. In respect of its fixed assets :

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

b) All the assets have been physically verified by the management during the year, There is regular programme of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. According to the information and explanation given to us, no material discrepancies have been noticed on such verification.

c) The company has not disposed off a substantial part of fixed assets during the year.

2. In respect of its inventories :

(a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable.

(b) In our opinion, the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business.

(c) The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification as compared to book records.

3. In respect of loans granted to parties covered in the register maintained u/s 301 of the Companies Act, 1956.

(a) The company has granted loans to two parties covered in the register maintained under sections 301 of the Companies Act, 1956. The amount involved during the year was Rs. 122.71 Lacs and the year-end balance of loans granted to such parties was Rs. 121.93 Lacs.

(b) In our opinion the rate of interest & other terms and conditions on which loan have been granted to the companies listed in the register maintained under Section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the Company.

(c) The party to whom loans have been granted are regular in repaying the principal amount & interest as stipulated in the terms & conditions.

(d) There is no overdue amount of loan granted to the parties listed in the register maintained under Section 301 of the Companies Act, 1956.

In respect of loans taken from parties covered in the register maintained u/s 301 of the Companies Act, 1956.

e) The company has nor taken any secured or unsecured loans from any Company or party covered in the register maintained under Section 301 of the Companies Act, 1956. In view of this clause 4 iii(e), 4 iii(f), 4 iii (g) of the order are not applicable to the Company.

4. In respect of internal control:

In our opinion and according to the explanations given to us, there are adequate internal control system commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and sale of goods and services. During the course of the audit we have not observed any continuing failure to correct major weaknesses in internal control system.

5. In respect of transactions need to be entered into a register maintained u/s301 of the Companies Act, 1956.

(a) According to the information and explanation given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanation given to us, the transaction made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of rupees five lakhs in respect of any party during the year have been made at price which are reasonable having regard to prevailing market prices at the relevant time.

6. In respect of deposits from public

The Company has not accepted deposits from the public. As such, the question of complying with the directives issued by the Reserve Bank of India and the provisions of Section 58A of the Companies Act, 1956 and rules framed thereunder does not arise.

7. In respect of internal audit system

In our opinion, The company has an adequate internal Audit system commensurate with its size and nature of its business.

8. In respect of maintenance of cost records

In the present case, the Central Government has not prescribed the maintenance of the cost records under section 209(1) (d) of the Companies Act, 1956. As such, the question of reviewing the books of account to be maintained by the company pursuant to such an order does not arise.

9. In respect of statutory dues:

(a) According to the information and explanations given to us, the Company is regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income-Tax, Sales Tax, Service Tax, Wealth Tax, Fringe Benefit Tax, Customs Duty, Excise Duty, Cess and other material statutory dues applicable to it.

(b) According to the information and explanations given to us, no undisputed amount payable in respect of Income Tax, wealth tax, sale tax, customs duty, excise duty, service tax, and cess were in arrears, as at 31s'' March 2013 for a period of more than six months from the date they became payable. Except Service Tax & Cess amounting of Rs.5,74,749/- and professional tax amounting to Rs. 12,850/-

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

10. In respect of accumulated losses and cash losses

The Company has accumulated losses at the end of the year however it is less than fifty percent of its net worth. The Company has not incurred cash loss during the year as well as in the immediately preceding financial year.

11. In respect of dues to financial institution/banks / debentures

According to the information and explanation given to us and as per the our verification of records of the company, the Company has not defaulted in repayment of dues to any financial institution, banks or debenture holders as at the Balance Sheet date.

12. In respect of loans and advances granted on the basis of security

As informed to us, the company has not granted any loans and advances on the basis of security by way of pledge on any shares, debentures and other securities, therefore, the provisions of clause 4(xii) of the companies (Auditor''s Report) Order 2003 are not applicable to the Company.

13. In respect of chit fund or a nidhi mutual benefit

In Our opinion, the Company is not a chit fund or a nidhi mutual benefit fund / society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor''s Report) Order 2003 are not applicable to the Company.

14. In respect of dealing or trading in shares, securities, debentures and other investments.

The Company is not dealing or trading in shares, securities, debentures and other investment. Therefore, the provisions of clause 4(xiv) of the Companies (Auditor''s Report) Order 2003 are not applicable to the Company

15. In respect of guarantee given for loan taken by others

The Company has given a guarantee for amounting to Rs.150 Lakhs to Kotak Mahindra Bank Ltd. for loans taken by a director. In our opinion the terms and conditions on which guarantee have been given are not, prima facie, prejudicial to the interest of the Company.

16. In respect of term loans taken

The term loan raised during the year and out standing at the beginning of the year was applied for the purpose for which it was taken.

17. In respect of fund used

According to the information and explanations given to us and overall examination of the Balance Sheet of the Company, we report that no fund raised on short term basis have been used for long term investments.

18. In respect of preferential allotment of shares

The Company has not made any preferential allotment of shares during the year under review. Therefore, the provisions of clause 4(xviii) of the Companies (Auditor''s Report) Order 2003 are not applicable to the Company.

19. In respect of securities created for debentures

The Company has not issued any debentures. Therefore, the provisions of clause 4(xix) of the Companies (Auditor''s Report) Order 2003 are not applicable to the Company.

20. In respect of end use of money raised by public issue

During the year under review, The Company has not raised any money by way of public issues. Hence the question of verification of end use of money raised in public issue as per the provision of clause 4(xx) of the companies (Auditor''s Report) Order 2003 does not arise,

21. In respect of fraud

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

For SARDASONI ACCOCIATES

Chartered Accountants

Firm Reg.No.117235

Place :Mumbai

Dated : 30/05/2013 MANOJ JAIN

PARTNER

Membership No. 120788

---

Mar 31, 2010

We have audited the attached Balance Sheet of BLOOM INDUSTRIES LIMITED as at 31st March, 2010 and also the Profit & Loss Account and the Cash Flow statement of the Company for the year ended on that date annexed thereto. 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.

1. 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 statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

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

3. Further, to our comments, in annexure referred to in paragraph 2 above, we report that:

(i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary forthe purpose of our audit;

(ii) In our opinion, proper books of accounts as required by law have been kept by the Company so far as appears from our examinations of these books;

(iii) The Balance Sheet, Profit and Loss Account and Cash Flow statement dealt with by this report are in agreement with books of account;

(iv) In our opinion, the Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the accounting Standards referred to in sub-section (3C) of Section 211 of the Company Act, 1956; Excepts AS 15 on "Accounting of Retirement Benefit to Employees" which is on cash basis.

(v) On the basis of the written representations received from the directors, as on 31st March, 2010, and taken on record by the Board of Directors, We report that none of the directors is disqualified as on 31 "March, 2010 from being appointed as a director in terms of clause (g) of Sub- section (I) of Section 274 of the Companies Act, 1956;

4. In our opinion and to the best of our information and according to the explanations given to us, the annexed accounts read with the Notes thereon given in Schedule "O", give the information required by the Companies Act,1956 (as amended) in the manner so required except Provision for liability towards leave salary and gratuity of employees is accounted for on cash basis, which is not in conformity with accounting standard 15 on "Accounting of Retirement Benefit to Employees:.

Subject to the above observations and read with notes thereon in Schedule "O" the said accounts give a true and fair view:-

(a) In the case of Balance Sheet, of the state of affairs of the Company as at 31st March, 2010;

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

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

Annexure Referred to in paragraph (2) of our report of even date on the accounts for the year ended 31st March, 201 Oof BLOOM INDUSTRIES LIMITED.

1. In respect of its fixed assets:

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

b) All the assets have been physically verified by the management during the year, There is regular programme of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. According to the information and explanation given to us, no material discrepancies have been noticed on such verification.

c) The company has not disposed off a substantial part of fixed assets during the year.

2. In respect of its inventories:

(a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable.

(b) In our opinion, the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business.

(c) The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification as compared to book records.

3. In respect of loans granted to parties covered in the register maintained u/s 301 of the Companies Act, 1956.

(a) The company has granted loans to three parties covered in the register maintained under sections 301 of the Companies Act, 1956. The amount involved during the year was Rs. 259.68 Lacs and the year-end balance of loans granted to such parties was Rs. 69.91 Lacs.

(b) In our opinion the rate of interest & other terms and conditions on which loan have been granted to the companies listed in the register maintained under Section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the Company.

(c) The party to whom loans have been granted are regular in repaying the principal amount & interest as stipulated in the terms & conditions.

(d) There is no overdue amount of loan granted to the parties listed in the register maintained under Section 301 of the Companies Act, 1956.

In respect of loans taken from parties covered in the register maintained u/s 301 of the Companies Act, 1956.

e) The company has taken unsecured loans from one party covered in the register maintaince under Section 301 of the Companies Act, 1956, The maximum amount involved during the year was Rs.19.45 Lakhs and the year end balance of loans taken from such parties was Rs.Nil.

(f) In our opinion the rate of interest and other terms and conditions on which loans have been taken by the companies, Secured or unsecured are not, prima facie, prejudicial to the interest of the Company.

(g) The payment of the principal amount and interest thereon are regular.

4. In respect of internal control:

In our opinion and according to the explanations given to us, there are adequate internal control system commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and sale of goods and services. During the course of the audit we have not observed any continuing failure to correct major weaknesses in internal control system.

5. In respect of transactions need to be entered into a register maintained u/s 301 of the Companies Act, 1956.

(a) According to the information and explanation given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanation given to us, the transaction made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of rupees five lakhs in respect of any party during the year have been made at price which are reasonable having regard to prevailing market prices at the relevant time.

6. In respect of deposits from public

The Company has not accepted deposits from the public. As such, the question of complying with the directives issued by the Reserve Bank of India and the provisions of Section 58A of the Companies Act, 1956 and rules framed thereunder does not arise.

7. In respect of internal audit system

In our opinion, The company has an adequate internal Audit system commensurate with its size and nature of its business.

8. In respect of maintenance of cost records

In the present case, the Central Government has not prescribed the maintenance of the cost records under section 209(1) (d) of the Companies Act, 1956. As such, the question of reviewing the books of account to be maintained by the company pursuant to such an order doesnot arise.

9. In respect of statutory dues:

(a) According to the information and explanations given to us, the Company is regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income-Tax, Sales Tax, Service Tax, Wealth Tax, Fringe Benefit Tax, Customs Duty, Excise Duty, Cess and other material statutory dues applicable to it.

(b) According to the information and explanations given to us, no undisputed amount payable in respect of Income Tax, wealth tax, sale tax, customs duty, excise duty, service tax, and cess were in arrears, as at 31st March 2010 for a period of more than six months from the date they became payable. Except Service Tax & Cess amounting of Rs.5,93,697/-

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

10. In respect of accumulated losses and cash losses

The Company has accumulated losses at the end of the year however it is less than fifty percent of its net worth. The Company has not incurred cash loss during the year as well as in the immediately preceding financial year.

11. In respect of dues to financial institution /banks / debentures

According to the information and explanation given to us and as per the our verification of records of the company, the Company has not defaulted in repayment of dues to any financial institution, banks or debenture holders as at the Balance Sheet date.

12. In respect of loans and advances granted on the basis of security

As informed to us, the company has not granted any loans and advances on the basis of security by way of pledge on any shares, debentures and other securities, therefore, the provisions of clause 4(xii) ofthe companies (Auditors Report) Order 2003 are not applicable to theCompany.

13. In respect of chit fund or a nidhi mutual benefit

In Our opinion, the Company is not a chit fund or a nidhi mutual benefit fund / society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order 2003 are not applicable to the Company.

14. In respect of dealing or trading in shares, securities, debentures and other investments.

The Company is maintaining timely proper records of the transaction and contracts for purchases or sales of shares, securities, debentures and other investment, and the same is held by the company, in its own name except few Shares held as investment are lying with broker.

15. In respect of guarantee given for loan taken by others

The Company has given a guarantee for amounting to Rs.150 Lakhs to Kotak Mahindra Bank Ltd. for loans taken by a director. In our opinion the terms and conditions on which guarantee have been given are not, prima facie, prejudicial to the interest of the Company.

16. In respect of term loans taken

The term loan raised during the year and out standing at the beginning of the year was applied for the purpose for which it was taken.

17. In respect of fund used

According to the information and explanations given to us and overall examination of the Balance Sheet of the Company, we report that no fund raised on short term basis have been used for long term investments.

18. In respect of preferential allotment of shares

The Company has not made any preferential allotment of shares during the year under review. Therefore, the provisions of clause 4(xviii) of the Companies (Auditors Report) Order 2003 are not applicable to the Company.

19. In respect of securities created for debentures

The Company has not issued any debentures. Therefore, the provisions of clause 4(xix) of the Companies (Auditors Report) Order 2003 are not applicable to the Company.

20. In respect of end use of money raised by public issue

During the year under review, The Company has not raised any money by way of public issues. Hence the question of verification of end use of money raised in public issue as per the provision of clause 4(xx) of the companies (Auditors Report) Order 2003 does not arise.

21. In respect of fraud

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

Place: Mumbai For JANGID & ASSOCIATES

Dated: 23/08/2010 Chartered Accountants

FirmReg.No.104045W

SAJJANAGARWAL

PARTNER

M.NO. 102586

---

Mar 31, 2009

We have audited the attached Balance Sheet of BLOOM INDUSTRIES LIMITED as at 31st March, 2009 and also the Profit & Loss Account and the Cash Flow statement of the Company for the year ended on that date annexed thereto 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.

1. 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 statements An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion

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

3. Further, to our comments, in annexure referred to in paragraph 2 above, we report that:

(i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit;

(ii) In our opinion, proper books of accounts as required by law have been kept by the Company so far as appears from our examinations of these books;

(iii) The Balance Sheet, Profit and Loss Account and Cash Flow statement dealt with by this report are in agreement with books of account;

(iv) In our opinion, the Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the accounting Standards referred to in sub-section (3C) of Section 211 of the Company Act, 1956; Excepts AS 15 on "Accounting of Retirement Benefit to Employees" which is on cash basis

(v) On the basis of the written representations received from the directors, as on 31" March, 2009, and taken on record by the Board of Directors, We report that none of the directors is disqualified as on 31st March, 2009 from being appointed as a director in terms of clause (g) of Sub- section (I) of Section 274 of the Companies Act, 1956;

4. In our opinion and to the best of our information and according to the explanations given to us, the annexed accounts read with the Notes thereon given in Schedule "M", give the information required by the Companies Act,1956 (as amended) in the manner so required except Provision for liability towards leave salary and gratuity of employees is accounted for on cash basis, which is not in conformity with accounting standard 15 on "Accounting of Retirement Benefit to Employees:.

Subject to the above observations and read with notes thereon in Schedule "M" the said accounts give a true and fair view:-

(a) In the case of Balance Sheet, of the state of affairs of the Company as at 31st March, 2009,

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

And

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

Annexure Referred to in paragraph (2) of our report of even date on the accounts lor the year ended 31" March, 2009 of BLOOM INDUSTRIES LIMITED.

1. In respect of its fixed assets:

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

b) All the assets have been physically verified by the management during the year, There is regular programme of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. According to the information and explanation given to us, no material discrepancies have been noticed on such verification.

c) The company has not disposed off a substantial part of fixed assets during the year.

2. In respect of its inventories:

(a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable.

(b) In our opinion, the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business.

(c) The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification as compared to book records.

3. In respect of loans granted to parties covered in the register maintained u/s 301 of the Companies Act, 1956.

(a) The company has granted loans to Six parties covered in the register maintained under sections 301 of the Companies Act, 1956.The amount involved during the year was Rs. 260.95 Lacs and the year-end balance of loans granted to such parties was Rs. 182.00 Lacs.

(b) In our opinion the rate of interest & other terms and conditions on which loan have been granted to the companies listed in the register maintained under Section 301 of the Companies Act, 1956 are not, prima facie, prejudicial to the interest of the Company.

(c) The party to whom loans have been granted are regular in repaying the principal amount & interest as stipulated in the terms & conditions.

(d) There is no overdue amount of loan granted to the parties listed in the register maintained under Section 301 of the Companies Act. 1956.

In respect of loans taken from parties covered in the register maintained u/s 301 of the Companies Act, 1956. e) The company has taken unsecured loans from three party covered in the register maintaince under Section 301 of the Companies Act, 1956. The maximum amount involved during the year was Rs.34.86 Lakhs and the year end balance of loans taken from such parties was Rs. 19.45 Lakhs.

(f) In our opinion the rate of interest and other terms and conditions on which loans have been taken by the companies, Secured or unsecured are not, prima facie, prejudicial to the interest of the Company.

(g) The payment of the principal amount and interest thereon are regular.

4. In respect of internal control:

In our opinion and according to the explanations given to us, there are adequate internal control system commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and sale of goods and services. During the course of the audit we have not observed any continuing failure to correct major weaknesses in internal control system.

5. In respect of transactions need to be entered into a register maintained u/s 301 of the Companies Act, 1956.

(a) According to the information and explanation given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanation given to us, the transaction made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the value of rupees five lakhs in respect of any party during the year have been made at price which are reasonable having regard to prevailing market prices at the relevant time.

6. In respect of deposits from public

The Company has not accepted deposits from the public. As such, the question of complying with the directives issued by the Reserve Bank of India and the provisions of Section 58A of the Companies Act, 1956 and rules framed thereunder does not arise.

7. In respect of internal audit system

In our opinion, The company has an adequate internal Audit system commensurate with its size and nature of its business.

8. In respect of maintenance of cost records

In the present case, the Central Government has not prescribed the maintenance of the cost records under section 209( 1) (d) of the Companies Act, 1956. As such, the question of reviewing the books of account to be maintained by the company pursuant to such an order does not arise.

9. In respect of statutory dues:

(a) According to the information and explanations given to us, the Company is regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance, Income-Tax, Sales Tax, Service Tax, Wealth Tax, Fringe Benefit Tax, Customs Duty, Excise Duty, Cess and other material statutory dues applicable to it.

(b) According to the information and explanations given to us, no undisputed amount payable in respect of Income Tax, wealth tax, sale tax, customs duty, excise duty, service tax, and cess were in arrears, as at 31" March 2009 for a period of more than six months from the date they became payable. Except Service Tax & Cess amounting of Rs.80,279/-.

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

10. In respect of accumulated losses and cash losses

The Company has accumulated losses at the end of the year however it is less than fifty percent of its net worth. "The Company has not incurred cash loss during the year as well as in the immediately preceding financial year.

11. In respect of dues to financial institution/banks/debentures

According to the information and explanation given to us and as per the our verification of records of the company, the Company has not defaulted in repayment of dues to any financial institution, banks or debenture holders as at the Balance Sheet date.

12. In respect of loans and advances granted on the basis of security

As informed to us, the company has not granted any loans and advances on the basis of security by way of pledge on any shares, debentures and other securities, therefore, the provisions of clause 4(xii) of the companies (Auditors Report) Order 2003 are not applicable to the Company.

13. In respect of chit fund or a nidhi mutual benefit

In Our opinion, the Company is not a chit fund or a nidhi mutual benefit fund / society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order 2003 are not applicable to the Company.

14. In respect of dealing or trading in shares, securities; debentures and other investments.

The Company is maintaining timely proper records of the transaction and contracts for purchases or sales of shares, securities, debentures and other investment, and the same is held by the company, in its own name except few Shares held as investment are lying with broker.

15. In respect of guarantee given for loan taken by others

As informed to us, the Company has not given any guarantee for any loans taken by other from bank or financial institutions. Therefore, the provision of clause 4(xv) of the Companies (Auditors Report) Order 2003 are not applicable to the Company.

16. In respect of term loans taken

The term loan raised during the year and out standing at the beginning of the year was applied for the purpose for which it was taken.

17. In respect of fund used

According to the information and explanations given to us and overall examination of the Balance Sheet.of the Company, we report that no fund raised on short term basis have been used for long term investments.

18. In respect of preferential allotment of shares

The Company has not made any preferential allotment of shares during the year under review. Therefore, the provisions of clause 4(xviii) of the Companies (Auditors Report) Order 2003 are not applicable to the Company.

19. In respect of securities created for debentures

The Company has not issued any debentures. Therefore, the provisions of clause 4(xix) of the Companies (Auditors Report) Order 2003 are not applicable to the Company.

20. In respect of end use of money raised by public issue

During the year under review. The Company has not raised any money by way of public issues. Hence the question of verification of end use of money raised in public issue as per the provision of clause 4(xx) of the companies (Auditors Report) Order 2003 does not arise.

21. In respect of fraud

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

For JANGID& ASSOCIATES Chartered Accountants

SAJJAN AGARWAL Place: Mumbai PARTNER

Dated; July 30,2009. M.No.102586