Auditor Report of Creative Eye Ltd.

Mar 31, 2024

We have audited the accompanying financial statements of Creative Eye Limited (the “Company”), which comprise the
Balance Sheet as at March 31, 2024, the Statement of Profit and Loss (including Other Comprehensive Income), the
Statement of Changes in Equity and the Statement of Cash Flows for the year ended on that date and a summary of
material accounting policies and other explanatory information (hereinafter referred to as the “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 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 March 31,2024 and its loss, total comprehensive income,
changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the financial statements in accordance with the Standards on Auditing (“SA”s) specified under
section 143(10) of the Act. 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 (“ICAI”) together with the ethical requirements that
are relevant to our audit of the financial statements under the provisions of the Act and the Rules made thereunder, and
we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI''s Code of Ethics. We
believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the
financial statements.

Key Audit matters

Key Audit matters are those matters that, in our professional judgement, were of most significance in our audit of the
financial statements of the current year. These matters were addressed in the context of our audit of the financial statements
as a whole, and in forming our opinion there on, and we do not provide a separate opinion on these matters. We have
determined that there are no key audit matters that need to be communicated in our report.

Information Other than the Financial Statements and Auditor’s Report Thereon

The Company''s Board of Directors is responsible for the other information. The other information comprises the information
included in the Management Discussion and Analysis, Board''s Report including Annexures to Board''s Report, Business
Responsibility Report, Corporate Governance and Shareholder''s Information, but does not include the consolidated
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 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.

Management’s Responsibilities 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 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 Ind AS
and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate

^ ''accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for
preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies;
making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance
of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the
accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view
and are free from material misstatement, 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 is 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 financial 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 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 the 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 financial statements that, individually or in aggregate, makes
it probable that the economic decisions of a reasonably knowledgeable user of the 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 (is) to evaluate the effect of any identified misstatements in the 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.

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 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 all the information and explanations which to the best of our knowledge and belief
were necessary for the purposes of our audit.

b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears
from our examination of those books.

c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income, Statement of
Changes in Equity and the Statement of Cash Flows dealt with by this Report are in agreement with the books
of account.

d) In our opinion, the aforesaid financial statements comply with the Ind AS specified under Section 133 of the Act.

e) On the basis of the 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 over financial reporting 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 over financial reporting.

g) In our opinion, Managerial Remuneration paid to Executive Directors of the Company are within the limits
prescribed under section 197 read with Schedule V of the Companies Act,2013. However, only Sitting Fees has
been paid to Non-Executive Directors for the year ended 31^st March 2024.

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, as amended, in our opinion and to the best of our information and
according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its financial position;

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

4

iii. In view of there being no amounts required to be transferred to the Investor Education and Protection
Fund for the year under audit, the reporting under this clause is not applicable.

iv. (A) The Management has represented that, to the best of its knowledge and belief, no funds (which are ^

material either individually or in the aggregate) have been advanced or loaned or invested ( either
from borrowed funds or share premium or any other sources or kinds of funds) by the Company to
or in any other person or entity, including foreign entity (“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 p 1

r*

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
(which are material either individually or in the aggregate) have been received by the Company
from any person or entity, including foreign entity (“ 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 Beneficiaries”) or provide any guarantee, security or the like
on behalf of the Ultimate Beneficiaries;

(C) Based on the audit procedures that have been 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 (I) of Rule 11(e), as provided under (A) and (B)
above, contain any material misstatement.

v. The Company has not declared or paid dividend during the year under audit.

3. Based on our examination which included test checks, the Company has used accounting software for maintaining
its books of account, for the financial year ended March 31,2024 which has a feature of recording audit trail (edit
log) facility and the same has operated throughout the year for all relevant transactions recorded in the respective
software.

As proviso to Rule 3(1) of the Companies (Accounts ) Rules 2014 is applicable from April 01,2023. Reporting under
Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on preservation of audit trail as per the statutory
requirements for the record retention is not applicable for the financial year ended March 31,2024.

For NGS & Co. LLP
Chartered Accountants
Firm’s Registration No. 119850W/W100013

Sd/-

Ganesh Toshniwal
Partner

Membership No. 046669

Mumbai UDIN: 24046669BKASWL1330

May 30, 2024

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Mar 31, 2015

1. Report on the Financial Statements

We have audited the accompanying financial statements of CREATIVE EYE LIMITED ("the Company"), 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.

2. Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

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

3. Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

4. 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 31,2015;

b. in the case of the Profit and Loss Account, of the Loss 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

5. Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor's Report) Order, 2015 ("the Order") issued by the Central Government of India in terms of sub-section (11) of Section 143 of the Companies Act,2013 we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

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

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.

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

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

(e) On the basis of the written representations received from the directors as on March 31,2015 taken on record by the Board of Directors, none of the directors is disqualified as on March 31,2015 from being appointed as a director in terms of Section 164 (2) of the Act.

(f) 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 information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financial position in its financial statements.

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

iii. The Company does not have any pending amount, required to be transferred, to the Investor Education and Protection Fund.

ANNEXURE TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in Paragraph 5 of our report of even date to the members of CREATIVE EYE LIMITED on the accounts for the year ended March 31,2015)

On the basis of such checks as we considered appropriate and according to the information and explanation given to us during the course of our audit, we report that:

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

(b) As explained by the Management, fixed assets have been physically verified by the management at regular intervals. In our opinion, the frequency of physical verification of fixed assets is reasonable having regard to the size of the company and nature of its assets. No material discrepancies were noticed on such verification.

ii) (a) As explained by the Management, physical verification of inventory has been conducted at reasonable intervals.

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

(c) The company is maintaining proper records of inventory and no material discrepancies were noticed on such verification.

iii) Based on the audit procedures applied by us and according to the information and explanations given to us the company has not granted or taken any loans secured or unsecured to / from companies, firms or other parties listed in the register maintained under Section 189 of the Companies Act . Therefore, the provisions of clause (iii) (a) (b) and (c) of Para 3 of the Order are not applicable to the Company.

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

v) In our opinion and according to the information and explanation given to us the Company has not accepted any deposit from public within the provision of Section 73 to 76 and other relevant provisions of the Companies Act, 2013 and the rules framed there under.

vi) As explained to us, the maintenance of cost records has not been prescribed by the Central Government under section (1) of section 148 of the Companies Act, 2013.

vii) (a) In our opinion and according to the records of the company, undisputed statutory dues including Provident Fund, Employees' State Insurance, Income-tax, Sales-tax, Service Tax, cess to the extent applicable and any other statutory dues have been regularly deposited with the appropriate authorities. According to the information and explanations given to us there were no outstanding statutory dues as on March 31, 2015 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us, there are no amounts payable in respect of income tax, wealth tax, service tax, sales tax, customs duty and excise duty which have not been deposited on account of any disputes.

(c) The company does not have any pending amount required to be transferred to Investor Education and Protection Fund in accordance with the relevant provisions of the Companies Act, and rules made thereof.

viii) The company has accumulated losses of Rs. 724.70 lacs, which is less than 50% of its net worth as at March 31,2015 and the company has incurred cash losses of Rs. 307.00 Lacs during the current financial year but has not incurred any cash losses in the immediately preceding financial year.

ix) On the basis of verification of records and according to the information and explanations given to us and based on the records made available to us, the Company has not defaulted in repayment of any loans from Financial Institutions or Bank or on Debentures.

x) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from Banks or financial institutions.

xi) According to the information and explanations given to us, the Company has applied loans for the purpose for which they were obtained.

xii) Based on the audit procedures performed and the information and explanations given to us, we report that no fraud on or by the Company has been noticed or reported during the year, nor have we been informed of such case by the management.

For Uttam Abuwala & Co. Chartered Accountants

Sd/- CA. Prerak Agarwal (Partner) Membership No. 158844 Firm No. 111184W Date: May 25, 2015 Place: Mumbai

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Mar 31, 2014

We have audited the accompanying financial statements of Creative Eye Limited (''the Company''), which comprise the Balance Sheet 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.

2. Management''s responsibility for the financial statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956 (''the Act'') read with General Circular 15/2013 dated September 13, 2013 of the Ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013. 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.

3. Auditor''s responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free 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 entity''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.

4. 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 31,2014;

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 for the year ended on that date.

5. Report on other legal and regulatory requirements

As required by the Companies (Auditor''s Report) Order, 2003 (''the Order''), as amended, 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.

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; read with General circular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act; and

e. On the basis of written representations received from the directors as on March 31, 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

ANNEXURE TO THE AUDITOR''S REPORT

(Referred to in paragraph 5 of Our Report of even date to the members of Creative Eye Limited on the accounts of the company for the year ended March 31,2014)

We report that:

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

b. As explained to us, fixed assets have been physically verified by the management at regular intervals; no material discrepancies were noticed on such verification.

c. In our opinion and according to the information and explanations given to us, no fixed asset has been disposed during the year and therefore does not affect the going concern assumption.

ii. a. As explained to us, inventories have been physically verified during the year by the management at yearly intervals.

b. In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

c. In our opinion and on the basis of our examination of the records, the Company is generally maintaining proper records of its inventories. No material discrepancies were noticed.

iii. a. According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. Consequently, the provisions of clauses iii(b), iii(c) and iii(d) of the order are not applicable to the Company.

b. According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not taken loans from companies, firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956. Thus sub clauses iii(f) and iii(g) are not applicable to the company.

iv. In our opinion and according to the information and explanations given to us, there is generally an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventories and fixed assets and payment for expenses and for sale of goods. During the course of our audit, no major instance of continuing failure to correct any weaknesses in the internal controls has been noticed.

v. a. According to the information and explanations given to us, we are of the opinion that the particulars of contracts or arrangements that need to be entered in 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 explanations given to us, there are no transactions made in pursuance of such contracts or arrangements entered in the register maintained under Section 301 of the Companies Act, 1956 exceeding the value of Rupees Five lakhs in respect of any party during the year, and accordingly the provisions of clause 4(v)(b) of the Order is not applicable to the company.

vi. The Company has not accepted any deposits from the public covered under section 58A and 58AA of the Companies Act, 1956.

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

viii. As explained to us, the maintenance of cost records has not been prescribed by the Central Government under clause (d) of sub-section (1) of section 209 of the Companies Act, 1956, for any products of the company.

ix. a. In our opinion and according to the records of the company, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Custom Duty, cess to the extent applicable and any other statutory dues have been regularly deposited with the appropriate authorities. According to the information and explanations given to us there were no outstanding statutory dues as on March 31,2014 for a period of more than six months from the date they became payable.

b. According to the information and explanations given to us, there is no amounts payable in respect of income tax, wealth tax, service tax, sales tax, customs duty and excise duty which have not been deposited on account of any disputes.

x. The Company had accumulated loss amounting to'' 380.74 Lacs, which is less than 50% of its net worth as at March 31,2014 and has not incurred cash loss during the financial year covered by our audit and in the immediately preceding financial year.

xi. Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that, the Company has not defaulted in repayment of dues to a financial institution, bank or debenture holders.

xii. According to the information and explanations given to us and records examined by us, the Company has not granted loans and advances on the basis of security 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 provision of clause 4(xiii) of the Order is not applicable to the Company.

xiv. According to the information and explanations given to us and records examined by us, the Company is not trading in Shares, Mutual funds and other Investments. However the company has invested in shares and the same is closely monitored and proper records are being maintained. All the shares and funds have been held in its own name. Therefore the provision of clause 4 (xiv) of the Order are not applicable to the Company.

xv. According to the information and explanations given to us and records examined by us, the Company has not given any guarantees for loan taken by others from a bank or financial institution.

xvi. Based on our audit procedures and on the information and explanation given to us and records examined by us, we report that the term loans have been applied for the purpose for which they were obtained.

xvii. Based on the information and explanations given to us and on an overall examination of the Balance Sheet of the Company as at March 31,2014, we report that no funds raised on short-term basis have been used for long-term investment by the Company.

xviii. Based on the audit procedures performed and the information and explanations given to us by the management, we report that the Company has not made any preferential allotment of shares during the year.

xix. The Company has no outstanding debentures during the period under audit.

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

xxi. Based on the audit procedures performed and the information and explanations given to us, we report that no fraud on or by the Company has been noticed or reported during the year, nor have we been informed of such case by the management.

For Uttam Abuwala and Co. Chartered Accountants Firm Regn. No. 111184W

Sd/- CA. Urmish Mehta Partner M.No.137150 Place : Mumbai Dated : 30th May, 2014

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Mar 31, 2012

1. We have audited the attached Balance Sheet of Creative Eye Limited as at 31st March 2012 and also the Profit & Loss Account and Cash Flow Statement for the year ended on that date, annexed thereto. 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.

2. 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 test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principals 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.

3. As required by the companies (Auditor's Report) Order, 2003 ("the order") issued by the central government of India in term of section 227(4A) of the Companies Act 1956, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said Order, to the extent applicable to the Company.

4. On the basis of written representation received on 31st March, 2012 from the directors of the company and taken on record by the Board of directors, we report that none of the directors is disqualified as on 31st March, 2012 from being appointed as a director in term of clause (g) of sub section (1) of section 274 of Companies Act, 1956.

5. Further to our comments in the Annexure to in paragraph 3 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 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 Profit and Loss Account 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 profit and Loss Account and the Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub section (3C) of section 211 of the Companies Act, 1956;

e. In our opinion, and to the best of our information and according to the explanations given to us, the said account, read together with the Significant Accounting Policies and the Notes to account give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

i) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March 2012;

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

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

Annexure to the Auditor's Report

(Referred to in paragraph 3 of our report of even date to the members of CREATIVE EYE LIMITED on the accounts for the year ended 31st March, 2012)

In terms of the information and explanations given to us and on the basis of the books and records examined by us in the normal course of audit and to the best of our knowledge and belief we state that:-

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

b. Fixed Assets have been physically verified by the management according to the regular programme of periodical verification in phased manner which in our opinion is reasonable, considering the size of the Company and nature of its assets. No material discrepancies were noticed on such verification.

c. The Company has not disposed off any substantial part of its fixed assets during the year, so as to affect its going concern status.

ii. a. As explained to us, the inventories have been physically verified by the management during the year. In our opinion, the frequency of such verification is reasonable.

b. As per the information given to us, the procedures of physical verification of inventory followed by the management are, in our opinion, reasonable and adequate in relation to the size of the Company and the nature of its business.

c. The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification.

iii. a. According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured, to companies, firms and other parties covered in the register maintained under section 301 of the Companies Act, 1956. b. Accordingly, paragraphs 4 (iii) (b), (c) & (d) of the Order are not applicable to the Company. According to the information and explanations given to us, the Company has not taken any loans, secured or unsecured, from companies, firms and other parties covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly, paragraphs 4 (iii) (f) & (g) of the Order are not applicable to the Company.

iv. In our opinion, and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and nature of its business, for purchases of inventory and fixed assets and for the sale of goods and services. During the course of audit, we have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control system.

v. a. According to the information and explanations given to us, we are of the opinion that the particulars of contracts or arrangements that need to be entered in 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 explanations given to us, the transactions made in pursuance of such 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 prices which are reasonable having regard to the prevailing market prices at the relevant time.

vi. The Company has not accepted any deposits from the public within the meaning of Section 58A and 58AA of the Companies Act, 1956.

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

viii. As explained to us, the Central Government has not prescribed the maintenance of cost records under section 209(1)(d) of the Companies Act, 1956, for any products of the Company.

ix. In our opinion according to the information and explanations given to us in respect of statutory and other dues.

a. The Company is regular in depositing Provident Fund and Employees' State Insurance Dues with the appropriate authorities and there were no arrears outstanding for a period of more than 6 months as at 31st March 2012.

b. The Company has been regular in making payment of its income tax, wealth tax, service tax, sales tax (CST & MVAT), customs duty and excise duty dues during the year, there were no undisputed amounts payable in respect of income tax, wealth tax, service tax, sales tax (CST & MVAT), customs duty and excise duty that were outstanding, as at 31st March 2012 for a period of more than six months from the date they became payable.

x. The Company had accumulated losses of Rs. 973.35 Lacs as at the end of the financial year which is less than 50% of its net worth as on 31st March 2012. The Company has not incurred cash losses in the current financial year however there was cash loss of Rs.131.93 Lacs during the immediately preceding financial year.

xi. The company has not defaulted in payment of any dues to financial institution or banks.

xii. According to the information and explanations given to us and the records examined by us, the company has not granted any loans and advances on the basis of security by way of pledge of shares, debenture and other securities.

xiii. The Company is not a chit fund or a nidhi/mutual fund/society, therefore clause (xiii) of paragraph 4 of the Companies (Auditor's Report) Order, 2003(the Order) is not applicable to the Company.

xiv. According to the information and explanations given to us and the records examined by us, the Company is not dealing or trading in shares, securities, debentures and other investment. However the company has invested in shares and the same is closely monitored and proper records are being maintained. All the shares and funds have been held in its own name. Therefore the provision of clause 4 (xiv) of the Order are not applicable to the Company.

xv. According to the information and explanations given to us and the records examined by us, the Company has not given any guarantee for loans taken by others from banks or financial institutions.

xvi. According to the information and explanations given to us and the records examined by us, the Company has not availed any term loan during the year.

xvii. According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that no funds raised on short term basis have been used for long term investment by company.

xviii.According to the information and explanations given to us and the records examined by us, the Company has not made any preferential allotment of shares to any parties or companies covered in register maintained under Section 301 of the Companies Act, 1956 during the year.

xix. According to the information and explanations given to us and the records examined by us, the Company has not issued any debentures that were outstanding at any time during the year.

xx. According to the information and explanations given to us and the records examined by us the Company has not raised any money through a public issue during the year.

xxi. Based upon the audit procedure performed and on the basis of information and explanation provided by the management, we report that no frauds on or by the company has been noticed or reported during the course of the audit.

For Uttam Abuwala &Co.

Chartered Accountants

Firm Regn. No. 111184W

Sd/-

CA M.B.Agarwal

Place : Mumbai (Partner)

Date : 30th May, 2012 M.No.109143

---

Mar 31, 2010

1. We have audited the attached Balance Sheet of Creative Eye Limited as at 31st March 2010 and also the Profits Loss Account and Cash Flow Statement 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 ouraudit.

2. 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 test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principals 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.

3. As required by the companies (Auditors Report) Order, 2003 ("the order") issued by the central government of India in term of section 227(4A) of the Companies Act 1956, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said Order, to the extent applicable to the Company.

4. On the basis of written representation received on 31st March, 2010 from the directors of the company and taken on record by the Board of directors, we report that none of the directors is disqualified as on 31st March, 2010 from being appointed as a director in term of clause (g) of sub section (1) of section 274 of Companies Act, 1956.

5. Further to our comments in the Annexure to in paragraph 3 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 ouraudit;

(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 Profit and Loss Account 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 profit and Loss Account and the Cash Flow Statement dealt with by this report comply with the accounting standards referred to in subsection (3C) of section 211 of the Companies Act, 1956;

(e) In our opinion, and to the best of our information and according to the explanations given to us, the said account, read together with the Significant Accounting Policies and the Notes to account give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

i) in the case of the Balance Sheet, of the state of affairs of the Company as at 31 st March 2010; ii) in the case ofthe Profit and Loss Account, of the loss for the year ended on that date; and iii) in the case of Cash Flow Statement, ofthe cash flows for the year ended on that date.

ANNEXURE TO THE AUDITORS REPORT (Referred to in paragraph 3 of our report of even date to the members of CREATIVE EYE LIMITED on the accounts for the year ended 31 st March, 2010)

In terms of the information and explanations given to us and on the basis of the books and records examined by us in the normal course of audit and to the best of our knowledge and belief we state that:-

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

b. Fixed Assets have been physically verified by the management according to the regular programme of periodical verification in phased manner which in our opinion is reasonable, considering the size of the Company and nature of its assets. No material discrepancies were noticed on such verification.

c. The Company has not disposed off any substantial part of its fixed assets during the year, so as to affect its going concern status.

ii. a. As explained to us, the inventories have been physically verified by the management during the year. In our opinion, the frequency of such verification is reasonable.

b. As per the information given to us, the procedures of physical verification of inventory followed by the management are, in our opinion, reasonable and adequate in relation to the size of the Company and the nature of its business.

c. The Company is maintaining proper records of inventory and no material discrepancies were noticed on physical verification.

iii. a. According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured, to companies, firms and other parties covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly, paragraphs 4 (iii) (b), (c) & (d) of the Order are not applicable to the Company.

b. According to the information and explanations given to us, the Company has not taken any loans, secured or unsecured, from companies, firms and other parties covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly, paragraphs 4 (iii) (f) & (g) of the Order are not applicable to the Company.

iv. In our opinion, and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and nature of its business, for purchases of inventory and fixed assets and for the sale of goods and services. During the course of audit, we have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control system.

v. a. According to the information and explanations given to us, we are of the opinion that the particulars of contracts or arrangements that need to be entered in 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 explanations given to us, the transactions made in pursuance of such 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 prices which are reasonable having regard to the prevailing market prices at the relevant time.

vi. The Company has not accepted any deposits from the public within the meaning of Section 58A and 58AA of the Companies Act, 1956.

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

viii. As explained to us, the Central Government has not prescribed the maintenance of cost records under section 209(1 )(d) of the Companies Act, 1956, for any products of the Company.

ix. In our opinion according to the information and explanations given to us in respect of statutory and other dues

a. The Company is regular in depositing Provident Fund and Employees State Insurance Dues with the appropriate authorities and there were no arrears outstanding for a period of more than 6 months as at 31 st March 2010.

b. The Company has been regular in making payment of its income tax, wealth tax, service tax, sales tax (CST & MVAT), customs duty and excise duty dues during the year, there were no undisputed amounts payable in respect of income tax, wealth tax, service tax, sales tax (CST & MVAT), customs duty and excise duty that were outstanding, as at 31 st March 2010 for a period of more than six months from the date they became payable.

x. The Company had accumulated losses of Rs. 842.90 Lacs as at the end of the financial year which is less than 50% of its net worth as on 31 st March 2010. The Company has incurred cash losses of Rs. 158.81 Lacs in the current financial year however there was cash loss of Rs.222.77 Lacs during the immediately preceding financial year.

xi. The company has not defaulted in payment of any dues to financial institution or banks.

xii. According to the information and explanations given to us and the records examined by us, the company has not granted any loans and advances on the basis of security by way of pledge of shares, debenture and other securities.

xiii. The Company is not a chit fund or a nidhi/mutual fund/society, therefore clause (xiii) of paragraph 4 of the Companies (Auditors Report) Order, 2003(the Order) is not applicable to the Company.

xiv. According to the information and explanations given to us and the records examined by us, the Company is not dealing or trading in shares, securities, debentures and other investment. However the company has invested in Mutual funds and shares and the same is closely monitored and proper records are being maintained. All the shares and units of mutual funds have been held in its own name. Therefore the provision of clause 4 (xiv) of the Order are not applicable to the Company.

xv. According to the information and explanations given to us and the records examined by us, the Company has not given any guarantee for loans taken by others from banks or financial institutions.

xvi. According to the information and explanations given to us and the records examined by us, the Company has not availed any term loan during the year.

xvii. According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that no funds raised on short term basis have been used for long term investment by company.

xviii.According to the information and explanations given to us and the records examined by us, the Company has not made any preferential allotment of shares to any parties or companies covered in register maintained under Section 301 of the Companies Act, 1956 during the year.

xix. According to the information and explanations given to us and the records examined by us, the Company has not issued any debentures that were outstanding at any time during the year.

xx. According to the information and explanations given to us and the records examined by us the Company has not raised any money through a public issue during the year.

xxi. Based upon the audit procedure performed and on the basis of information and explanation provided by the management, we report that no frauds on or by the company has been noticed or reported during the course of the audit.

For Uttam Abuwala & Co.

Chartered Accountants Firm Regn. No.: 111184W

CA. Gouri Arora

Place: Mumbai (Partner)

Date: 24th May 2010 M.No. 510291