Auditor Report of Decorous Investment & Trading Co. Ltd.

Mar 31, 2024

We have audited the accompanying Financial Statements of DECOROUS INVESTMENT AND TRADING COMPANY
LIMITED, [CIN: L67120DL1982pLC289090] (“the company”) which comprises the Balance Sheet as at March 31,2024,
the Statement of Profit and Loss for the year ended, Statement of Changes in Equity and Statement of Cash Flows for the
year then ended, and Notes to the Financial Statements, including a summary of significant accounting policies and other
explanatory information.

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, (“Ind AS”)
and other accounting principles generally accepted in India:

a) In the case of the Balance Sheet, of the state of affairs of the company as at 31* March 2024;

b) In the case of the Statement of Profit and Loss, of the Profit of the company for the year ended on that date.

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

d) In the case of the Changes in Equity, of the equity flows of the company 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 there
under, 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 audit
opinion on the Financial Statements.

KEY AUDIT MATTERS

This section of our auditor’s report is intended to describe the matters selected from those communicated with
management that, in our professional judgment, were of most significance in our audit of the financial statements, except
for the matter described in the Basis for Qualified (or Adverse) Opinion section and the material uncertainty described in
the Going Concern section. We have determined that there are no such matters to report on the basis of these financial
statements.

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 Companies Act, 2013 (“the
Act”) with respect to the preparation of these standalone financial statements that give a true and fair view of the financial
position, financial performance, (changes in equity) 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 implementation and
maintenance of 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
statement 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 RESPONSIBILITY 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
SA’s will always detect a material misstatement when it exists, As part of an audit in accordance with SA’s professional
judgment is exercised and professional skepticism is maintained throughout the audit. 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.

• 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.

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 Department of Company

Affairs, in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give in the "Annexure - "I” 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, 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 appears
from our examination of those books;

c) The Balance Sheet, Statement of Profit & Loss (Including other comprehensive income), Cash Flow Statement
and Change in Equity dealt with by this Report are in agreement with the books of account;

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

e) On the basis of written representations received from the Directors as on 31st March, 2024 and taken on record
by the Board of Directors, none of the Directors is disqualified as on 31st March, 2024 from being appointed as a

director in terms of section 164(2) of the Act.

f) The company has no branch offices and consequently we have not received any report on accounts of accounts
of branch of the company.

g) With respect to the adequacy of the internal financial controls with reference to financial statement of the
Company and the operating effectiveness of such controls, refer to our separate report in “Annexure- “II”

h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the
Companies (Audit & Auditors), Rule, 2014, 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 litigation which would impact its financial position;

(ii) The Company has not entered in any of the long-term derivative contracts as on March 31,2024. Therefore,
the Company does not require making any provision thereof, as required under the applicable law or
accounting standards.

(iii) No amount is required to be transferred to the Investor Education and Protection Fund by the company as
on March 31,2024.

(iv) The management has represented that, to the best of its knowledge & belief, other than those disclosed in
the notes to accounts,

a) No funds have been advanced or loaned or invested by the company to or in any other person(s) 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 by or on behalf of the company (Ultimate Beneficiaries) or provide any guarantee,
security or the like on behalf of ultimate beneficiaries.

b) No funds have been received by the company from any person(s) or entities including foreign entities
(“Funding Parties”) with the understanding that such 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 guarantee, security or the like on behalf of the Ultimate
beneficiaries.

c) Based on the information & explanation provided to us & performing such audit procedures that has
been considered reasonable and appropriate in the circumstances, nothing has come to the notice that
has caused to believe that the representations under sub-clause (a) and (b) contain any material
misstatement.

(v) No Dividend declared or paid during the year by the company which is in compliance with section 123 of the
Companies Act, 2013.

(vi) Based on our examination which included test checks, performed by us, the company, has used an
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 software. Further, during the course of audit, we have not come across
any instance of the audit trail feature being tampered with.

For G. K. Kedia & Co.

Chartered Accountants
F.R. No.: 013016N

Kanishka Aggarwal

Place : New Delhi Partner

Date : 21.05.2024 Membership No.544129

UDIN: 24544129BKABHC7386

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Mar 31, 2015

We have audited the accompanying financial statements of Decorous Trading and Investment Company Limited ("the Company"), which comprise the Balance Sheet as at 31 st March, 2015, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information and the company is primarily in the business of gems & jewellery.

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.

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 there under.

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.

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, of the state of affairs of the Company as at 31st March, 2015, and its Profit & Loss A/c and its cash flows for the year ended on that date.

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, to the extent applicable.

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 ouropinion, 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 31st March, 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015 from being appointed as a director in terms of Section 164 (2) of the 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 & to the best of our information & 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.

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

Annexure to the Auditors' Report

The Annexure referred to in our Independent Auditor's Report to the members of Decorous Investment and Trading Company Limited for the year ended on 31.03.2015, We report that:

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

(b) Fixed assets have been physically verified by the management at reasonable intervals and no material discrepancies were noticed on such verification. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the company and the nature of its assets.

(ii) (a) Physical verification of inventory (gems & jewellery) has been conducted at reasonable intervals by the management;

(b) Procedures of physical verification of inventory followed by the management are reasonable and Adequate in relation to the size of the company and the nature of its business.

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

(iii) According to the information and explanations given to us and on the basis of our examination of the books of accounts the company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 189 of the Companies Act 2013.

(iv) There is an adequate internal control system commensurate with the size of the company and the nature of its business, for the purchase of inventory and fixed assets and forthe sale of goods and services.

(v) The company has not accepted any deposit from the public.

(vi) As per information & explanation given by the management, Central Government has not prescribed the maintenance of cost records under section (1) of section 148 of the Companies Act.

(vii) (a) As per information & explanation given by the management ,the company is regular in depositing undisputed statutory dues including provident fund, employees' state insurance, income-tax, sales-tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the appropriate authorities.

(b) According to the information and explanations given to us, there is no amount payable of income tax or sales tax or wealth tax or service tax or duty of customs or duty of excise or value added tax or cess on account of any dispute.

(c) No amount is required to be transferred to investor education and protection fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules made there under transferred to such fund within time.

(viii) The Company does not have any accumulated loss at the end of the financial year and has not incurred cash loss during the financial year covered by our audit and in the immediately preceding financial year.

(ix) The company did not have any outstanding dues to financial institution or bank or debenture holders during the year.

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

(xi) The company did not have any term loan outstanding during the year.

(xii) According to the information and explanations given to us, no material fraud on or by the Company has been noticed or reported during the course of our audit.

For MOHAN & MOHAN Place: New Delhi Chartered Accountants Date: 25/05/2015 FRN:002612N

Adarsh Mohan Partner (M. No. 081491)

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Mar 31, 2014

1. We have audited the accompanying financial statements of Decorous Investment & Trading Co. Ltd ("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.

Management's Responsibility for the financial statements

2. Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("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.

Auditors' responsibility

3. 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.

4. 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. 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.

Opinion

5. 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 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.

Report on Other Legal and Regulatory Requirements

6. 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.

7. 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 section 211(3C) of the Act;

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 section 274(1)(g) of the Act.

(Referred to in paragraph 6 under 'Report on Other Legal and Regulatory Requirements' section of our report of even date)

1. The company does not have any fixed assets.

2. The company has taken loans/advances, secured or unsecured from 5 companies covered in the register maintained under section 189 of the Companies Act, 2013 and the amount involved is Rs. 3.77 lacs.

3. The company has not granted loans/advances, secured or unsecured to any Company covered in the register maintained under section 189 of the Companies Act, 2013.

4. The company is regular in repaying the principal amounts as stipulated and has been regular in the payment of interest. The parties have repaid the principal amount as stipulated and have been regular in the payment of interest.

5. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of our audit, no major weakness has been noticed in the internal controls.

6. In our opinion and according to the information and explanations given to us the transactions made in pursuance of contracts or arrangements entered in the registers maintained under Section 189 and exceeding the value of Five Lakh rupees in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

7. In our opinion and according to the information and explanations given to us, the company has complied with the provisions of Section 73 of the Companies Act, 2013, and the Companies (Acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the public are not applicable to the company. No order has been passed by the National Company Law Tribunal.

8. The provisions relating to comment on internal audit system are not applicable to your company.

9. The Central Government has not prescribed maintenance of cost records under section 128 of the Companies Act, 2013 for any of the products of the company.

10. According to the records of the company, the company is generally regular in depositing with appropriate authorities undisputed statutory dues including income-tax, wealth-tax, cess and other statutory dues applicable to it and no such statutory dues were outstanding as at 31.03.2014 for a period of more than six months from the date they became payable.

11. According to the records of the company, there are no dues of sales tax, income tax, customs tax. Wealth tax, excise duty, cess, which have not been deposited on account of any dispute.

12. The accumulated losses of the company are more than fifty percent of its net worth. The company has not incurred cash loses during the financial year covered by our audit and the company has incurred cash losses of Rs. 14,564/- immediately preceding financial year.

13. 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.

14. Based on our examination of documents and records, the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

15. Based on our examination of the records and evaluation of the related internal controls, we are of the opinion that proper records have been maintained of the transaction and contracts and timely entries have been made in those records in respect of shares, securities, debentures and other investments dealt in and traded by the company. We also report that the company has held the shares, securities, debentures and other securities in its own name.

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

17. The company has not taken any term loan.

18. The company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 189 of the act.

19. During the period covered by our audit report, the company has not issued any debenture.

20. The company has not raised any money from public issues.

21. Based upon the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the course of our audit.

For ANUJ GARG & CO., Chartered Accountants

(Anuj Garg) Proprietor Membership No.082422

PLACE : NEW DELHI DATED : 26-05-2014

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Mar 31, 2013

1. We have audited the accompanying financial statements of Decorous Investment & Trading Co. Ltd ("the Company"), which comprise the Balance Sheet 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's Responsibility for the financial statements

2. Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("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.

Auditors' responsibility

3. 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.

4. 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. 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.

Opinion

5. In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

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

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

Report on Other Legal and Regulatory Requirements

6 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.

7. 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 section 211(3C) of the Act;

e) on the basis of written representations received from the directors as on March 31, 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 a director in terms of section 274(i)(g) of the Act.

ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT DECOROUS INVESTMENT & TRADING CO. LTD

(Referred to in paragraph 6 under 'Report on Other Legal and Regulatory Requirements section of our report of even date)

1. The company does not have any fixed assets.

2. The company has taken loans/advances. secured or unsecured from 6 companies covered in the register maintained under section 301 of the Companies Act. 1956 and the amount involved is Rs. 5.70 lacs.

3. The company has granted loans/advances, secured or unsecured to one Company covered in the register maintained under section 301 of the Companies Act, 1956 and the amount involved is Rs. 0.65 lacs.

4. The company is regular in repaying the principal amounts as stipulated and has been regular in the payment of interest. The parties have repaid the principal amount as stipulated and have been regular in the payment of interest.

5. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of our audit, no major weakness has been noticed in the internal controls.

6. In our opinion and according to the information and explanations given to us the transactions made in pursuance of contracts or arrangements entered in the registers maintained under Section 301 and exceeding the value of Five Lakh rupees in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

7. In our opinion and according to the information and explanations given to us, the company has complied with the provisions of Sections 58A and 58AA of the Companies Act, 1956. and the Companies (Acceptance of Deposits) Rules. 1975 with regard to the deposits accepted from the public are not applicable to the company. No order has been passed by the National Company Law Tribunal.

8. The provisions relating to comment on internal audit system are not applicable to your company.

9. The Central Government has not prescribed maintenance of cost records under section 209( 1 )(d) of the Companies Act. 1956 for any of the products of the company.

10. According to the records of the company, the company is generally regular in depositing with appropriate authorities undisputed statutory dues including income-tax, wealth-tax. cess and other statutory dues applicable to it and no such statutory dues were outstanding as at 31.03.2013 for a period of more than six months from the date they became payable.

11. According to the records of the company, there are no dues of sales tax, income tax, customs tax. Wealth tax, excise duty, cess, which have not been deposited on account of any dispute.

12. The accumulated losses of the company are more than fifty percent of its net worth. The company has incurred cash loses of Rs. 14,564/- during the financial year covered by our audit and the company has not incurred cash losses immediately preceding financial year.

13 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.

14. Based on our examination of documents and records, the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

15 Based on our examination of the records and evaluation of the related internal controls we are of the opinion that proper records have been maintained of the transaction and contracts and timely entries have been made in those records in respect of shares, securities, debentures and other investments dealt in and traded by the company. We also report that the company has held the shares, securities, debentures and other securities in its own name.

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

17. The company has not taken any term loan.

18. The company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the act.

19. During the period covered by our audit report, the company has not issued any debenture.

20. The company has not raised any money from public issues.

21. Based upon the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the course of our audit.

For ANUJ GARG & CO., CHARTERED ACCOUNTANTS

(Anuj Garg) Proprietor Membership No.082422

PLACE: NEW DELHI DATED: 31-08-203

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Mar 31, 2012

1.We have audited the attached balance sheet of DEC0R0US INVESTMENT & TRADING CO. LTD as at 31st March,2012, and ended also the Statement of Profit and loss and the cash flow statement for the year 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 the auditing standards generally accepted in India Those 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 our opinion. statement presentatiion. We believe that Provides a reasonable basis for our opinion.

3. As required by the Companies (Auditors' Report) Order, 2004 issued by the central government of India in terms of sub-section (4A) pf section 2 27 of the companies act, 1956, we enclose in the annexure statement on the matters specified in paragraphs 4 and 5 of the said order.

4. Further to our comments in the annexure referred to 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 purposes of our audit.

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

iii. The balane Sheet, Statement of profit and loss and Cash Flow Statement dealt with by this report are in agreement with the books of account.

iv. In our opinion, the Balance Sheet, Statement of profit and loss and Cash Flow Statement dealt with accounting standards referred to in sub-section 3C of section 211 of the companies Act,1956.

v. On the basis of written representations received from the directors, as on 31st March 2012 and taken 2012 by the Board of Directs, we report that, none of the director is disqualified as on 31 March 2012 from being appointed as a director in terms of clause (g) of subsection 1 of section 274 of the Companies Act, 1956;

vi. In our opinion and to the best of our information and according to the explanations given to us the said accounts give the fair information required the Act, 1956, 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 balance sheet, of the state of affairs of the company as at 31* March 2012.

b) in the case °f the statement of profit and loSS' of the proflt for 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 TO A UDITORS ' REPORT

Re : Decorous Investment & Trading Co. India Ltd

Referred to in paragraph 3 of our report of even date,

1. The company does not have any fixed assets.

2. The company has taken loans/advances, secured or unsecured from 5 companies covered in the register maintained under section 301 of the Companies Act, 1956 and the amount involved is Rs. 2.70 lacs.

3. The company has granted loans/advances, secured or unsecured to 2 companies covered in the register maintained under section 301 of the Companies Act, 1956 and the amount involved is Rs. 1.21 lacs.

4. The company is regular in repaying the principal amounts as stipulated and has been regular in the payment of interest. The parties have repaid the principal amount as stipulated and have been regular in the payment of interest.

5. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of our audit, no major weakness has been noticed in the internal controls.

6. In our opinion and according to the information and explanations given to us the transactions made in pursuance of contracts or arrangements entered in the registers maintained under Section 301 and exceeding the value of Five Lakh rupees in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

7. In our opinion and according to the information and explanations given to us, the company has complied with the provisions of Sections 58A and 58AA of the Companies Act, 1956, and the Companies (Acceptance of Deposits) Rules, 1975 with regard to the deposits accepted from the public are not applicable to the company. No order has been passed by the National Company Law Tribunal.

8. The provisions relating to comment on internal audit system are not applicable to your company.

9. The Central Government has not prescribed maintenance of cost records under section 209( 1 Xd) of the Companies Act, 1956 for any of the products of the company.

10. According to the records of the company, the company is generally regular in depositing with appropriate authorities undisputed statutory dues including income-tax, wealth-tax, cess and other statutory dues applicable to it and no such statutory dues were outstanding as at 31.03.2012 for a period of more than six months from the date they became payable.

11. According to the records of the company, there are no dues of sales tax, income tax, customs tax. Wealth tax, excise duty, cess, which have not been deposited on account of any dispute.

12. The accumulated losses of the company are more than fifty percent of its net worth. The company has not incurred any cash loses during the financial year covered by our audit and the company has also not incurred cash losses immediately preceding financial year.

13. 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.

14. Based on our examination of documents and records, the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

15. Based on our examination of the records and evaluation of the related internal controls, we are of the opinion that proper records have been maintained of the transaction and contracts and timely entries have been made in those records in respect of shares, securities, debentures and other investments dealt in and traded by the company. We also report that the company has held the shares, securities, debentures and other securities in its own name.

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

17. The company has not taken any term loan.

18. The company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the act.

19. During the period covered by our audit report, the company has not issued any debenture.

20. The company has not raised any money from public issues.

21. Based upon the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the course of our audit.

For ANUJ GARG&CO., CHARTERED ACCOUNTANTS

(Anuj Garg) Proprietor

PLACE: NEW DELHI DATED: 03-09-2012