Auditor Report of Easy Fincorp Ltd.

Mar 31, 2024

We have audited the accompanying financial statements of EASY FINCORP LIMITED (“the
Company”), which comprise the Balance Sheet as at 31st March 2024, the Statement of Profit and
Loss (Including other comprehensive income), the Statement of Changes in Equity and the Cash Flow
Statement for the year then ended, a summary of the significant accounting policies and other
explanatory information (hereinafter referred to as “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, the Loss and total comprehensive
income, changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the financial statements in accordance with the Standards on Auditing (SAs)
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 para graph 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 we have obtained 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 judgment, 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 in forming our opinion thereon and we do not provide
a separate opinion on these matters. We have determined the matters described below to be the key
audit matters to be communicated in our report.

Key Audit Matter

Auditor''s Response

Financial Instrument: Presentation 1% Non-cumulative Redeemable Preference Share Capital of Rs. 4,75,00,000/- classified between Equity component of preference share capital and Liability component of preference share capital as required by Ind AS 32 “Financial Instrument: Presentation”. To determine the present value of preference share capital, the market rate of interest is considered at 8% p.a. The liability component and accumulated interest amounting to Rs. 1,81,64,277/- up to 31st March 2024 is shown as ''Borrowing'' and Rs. 2,38,91,018/- is shown as equity component of preference share capital under other equity after adjusting deferred tax and interest till 31st March 2024.

Principal Audit Procedures To address the risk of misstatement related to the classification between the equity component and liability component of Preference Share capital, we performed the following procedure: • Reasonableness of considering market interest rate at 8% p.a. • Checking of calculation for classifying preference share capital between the Equity component and the Liability component. • Presentation of Equity component and Liability component of Preference share capital in Financial Statements.

Information Other than The Financial Statements and Auditor''s Report Thereon

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

Our opinion on the financial statements does not cover the information and we do not express any form
of assurance and 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 statement 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 Responsibility 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 and presentation of these financial statements that give a true and fair view
of the financial position, financial performance, total 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, including the accounting Standards specified under section 133 of the Act. 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 politics making judgments and
estimates that are reasonable and prudent and design, implementation and maintenance of adequate
internal financial control 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 the Board of Directors either intend 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

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 controls 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 an adequate internal financial
controls system in place and the operating effectiveness of such controls.

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

• Conclude on the appropriateness of management''s use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Company''s ability to continue as a going concern if
we conclude that a material uncertainty exists, we are required to draw attention in our auditor''s
report to the related disclosures in the financial statements or, if such disclosures are inadequate to
modify our opinion. Our conclusions are based on the audit evidence obtained up to the data 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 economic decisions of a
reasonably knowledgeable user of the financial statements may be influenced.

• We consider quantitative materiality and qualitative factors in planning the scope of our audit work;
and 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.

From the matters communicated with those charged with governance, we determine those matters that
were of most significance in the audit of the financial statements for the financial year ended March 31,
2024 and are therefore the key audit matters. We describe these matters in our auditor''s report unless
law or regulation precludes public disclosure about the matter or when, in extremely rare
circumstances, we determine that a matter should not be communicated in our report because the
adverse consequences of doing so would reasonably be expected to outweigh the public interest
benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required under section 143 (3) of the Act based on our audit, we report to the extent applicable
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 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 written representation received from the directors as on 31st March 2024
taken on record by the board of directors, none of the directors is disqualified as on 31^st
March 2024 from being appointed as a director in terms of section 164(2) of the Act.

f) With respect to the adequacy of the internal financial controls over financial reporting of the
Company and the operating effectiveness of such controls, refer to our separate Report in
“Annexure B”. Our report expresses an unmodified opinion on the adequacy and operating
effectiveness of the Company''s internal financial controls over financial reporting.

g) With respect to the other matters to be included in the Auditor''s report in accordance with
the requirements of section 197(16) of the Act as amended, in our opinion and to the best of
our information and according to the explanations given to us, no remuneration has been
paid by the Company to its directors during the year.

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 knowledge and belief and according to the explanations given to us:

(i) The Company has no pending litigation against the Company that impacts on its
financial position as at 31st March 2024.

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

(iii) There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Company during the year ended 31st March
2024.

(iv) (a) The Management has represented that to the best of its knowledge and belief, no
funds have been advanced or loaned or invested (either from borrowed funds or
share premium or any other sources or kind of funds) by the Company to or in any
other person(s) or entity(ies) including foreign entities (“Intermediaries”}, with the
understanding that the Intermediary shall, whether directly or indirectly lend or
invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Company ("Ultimate Beneficiaries”) or provide any guarantee. Security
or the like on behalf of the Ultimate Beneficiaries.

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

Based on such audit procedures performed as considered reasonable and
appropriate in the circumstances, nothing has come to our attention that causes us
to believe that the management representations under sub-clause (a) and (b) above
contain any material misstatement.

(v) The Company has not declared or paid any dividend during the year ended 31 March
2024.

(vi) As required to be reported under Rule 11(g) of the Companies (Audit and Auditors)
Rules, 2014 we report that based on our assessment and examination which included
test checks, the accounting software used by the Company has a feature of recording
an audit trail (edit log) and the same has operated throughout the year for all
transactions recorded in the software. Further, during the course of our audit, we did
not come across any instance of the audit trail feature being tampered with.
Additionally, we report that the audit trail has been preserved by the Company as per
the statutory requirements for record retention.

2. As required by the Companies (Auditor''s Report) Order, 2020 (“the Order”), issued by the Central

Government of India 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.

For RAY & RAY
Chartered Accountants

Place: Kolkata Firm Registration No. 301072E

Date: 22-05-2024 Amitava Chowdhury

Partner

Membership No.: 056060
UDIN: 24056060BKFSOJ3765

---

Mar 31, 2014

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

Management''s Responsibility for the Financial Statements

The Company''s Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards 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

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 the 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 the 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 the Management, as well as evaluating the overall presentation of the financial statements.

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

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 31st March, 2014;

(b) in the case of the Statement of Profit and Loss, of the Profit of the Company for the year ended on that date, and

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

Report on Other Legal and Regulatory Requirements

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

2. As required by Section 227(3) of the Act, we report that:

(a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the 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, Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

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

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

(Referred to in paragraph 1 of the Independent Auditors'' Report of even date to the

Shareholders of EASY FINCORP LIMITED) on the accounts for the year ended on March 31,2014)

(i) The company does not have any fixed assets and therefore, the provisions of clause (i) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(ii) The company does not have any inventories and therefore, the provisions of clause (ii) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(iii) (a) The company has not granted unsecured loans to any parties covered in the register maintained under section 301 of the Act and therefore sub- clause (a) to (d) of clause (iii) of the order is not applicable to the company.

(b) The company has not taken unsecured loans from any parties covered in the register maintained under section 301 of the Act any and therefore sub-clause (e) to (g) of clause (iii) of the order is not applicable to the company.

(iv) 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.

(v) There were no transactions that need to be entered in the register maintained in pursuance of Section 301 of the Companies Act, 1956 and therefore clause (v) of the order is not applicable to the company.

(vi) The company has not accepted deposits from the public as envisaged in the provisions of sections 58A and 58AA of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975.

(vii) The company has an in-house internal audit system, commensurate with the size and nature of its business.

(viii) As per the information and explanation provided to us, the maintenance of Cost records has not been prescribed by the Central Government under section 209 (1) (d) of the Companies Act, 1956.

(ix) (a) As per the records produced before us, the company was regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees'' state insurance, income tax, sales tax, customs duty, excise duty, cess and other material statutory dues applicable to it.

(b) On the basis of the books and records and according to the information and explanations given to us, there were no disputed amounts payable in respect of income tax, sales tax, cess etc. that needed to be deposited with the appropriate authorities

(x) The company has accumulated losses at the end of the financial year in excess of fifty percentage of its net-worth. The company has incurred cash profit during the financial year covered by our audit and in the immediate preceding financial year.

(xi) The company has not taken any loans from banks, financial institutions or on debentures. Therefore, the provisions of clause 4 (xi) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(xii) The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Therefore, the provisions of clause 4 (xii) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

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

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

(xv) As per the information furnished to us, the company has not given guarantees for loans taken by others from banks and financial institutions. Accordingly, the provisions of clause 4(XV) of the companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(xvi) The company has not taken any term loan during the year. Accordingly, the provisions of clause 4 (xvi) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(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 the no funds raised on short-term basis have been used for long-term investment. No long-term funds have been used to finance short-term assets except permanent working capital.

(xviii) The company has not made any preferential allotment of shares to parties and companies covered under section 301 of the Act. Accordingly clause 4 (xviii) of the Companies (Auditor''s Report) Order, 2003 is not applicable to the company.

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

(xx) The company has not raised any additional capital during the year under review. Accordingly, the provisions of clause 4(xx) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

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

FOR U. B. SURA & CO., CHARTERED ACCOUNTANTS FR NO: 110620W

Sd/-

PLACE: MUMBAI U.B.SURA DATED: 28.05.2014 PROPRIETOR MEMBERSHIP NO: 32026

---

Mar 31, 2013

Report on the Financial Statements

We have audited the accompanying financial statements of EASY FINCORP LIMITED, which comprise the Balance Sheet as at 31st March , 2013, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

The Company''s Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards 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

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 the ethical requirements and pian 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 materia! misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers the interna! 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 the Management, as well as evaluating the overall presentation of the financial statements.

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

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 31st March, 2013;

(b) in the case of the Statement of Profit and Loss, of the Profit of the Company for the year ended on that date, and

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

Report on Other Legal and Regulatory Requirements

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

2. As required by Section 227(3) of the Act, we report that:

(a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the 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, Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

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

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

ANNEXURE TO THE INDEPENDENT AUDITORS'' REPORT

(Referred to in paragraph 1 of the Independent Auditors'' Report of even date to the Shareholders of EASY FINCORP LIMITED) on the accounts for the year ended on March 31, 2013)

(i) The company does not have any fixed assets and therefore, the provisions of clause (i) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(ii) The company does not have any inventories and therefore, the provisions of clause (ii) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(iii) (a) The company has not granted unsecured loans to any parties covered in the register maintained under section 301 of the Act and therefore sub- clause (a) to (d) of clause (iii) of the order is not applicable to the company.

(b) The company has not taken unsecured loans from any parties covered in the register maintained under section 301 of the Act any and therefore sub-clause (e) to (g) of clause (iii) of the order is not applicable to the company.

(iv) In our opinion and according to the information and explanations given to us, there are adequate interna! 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.

(v) There were no transactions that need to be entered in the register maintained in pursuance of Section 301 of the Companies Act, 1956 and therefore clause (v) of the order is not applicable to the company.

(vi) The company has not accepted deposits from the public as envisaged in the provisions of sections 58A and 58AA of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975.

(vii) The company has an in-house internal audit system, commensurate with the size and nature of its business.

(viii) As per the information and explanation provided to us, the maintenance of Cost records has nor been prescribed by the Central Government under section 209 (1) (d) of the Companies Act, 1956.

(ix) (a) As per the records produced before us, the company was regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees'' state insurance, income tax, sales tax, customs duty, excise duty, cess and other material statutory dues applicable to it.

(b) On the basis of the books and records and according to the information and explanations given to us, there were no disputed amounts payable in respect of income tax, sales tax, cess etc. that needed to be deposited with the appropriate authorities

(x) The company has accumulated losses at the end of the financial year in excess of fifty percentage of its net-worth. The company has incurred cash profit during the financial year covered by our audit and in the immediate preceding financial year.

(xi) The company has not taken any loans from banks, financial institutions or on debentures. Therefore, the provisions of clause 4 (xi) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(xii) The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Therefore, the provisions of clause 4 (xii) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

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

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

(xv) As per the information furnished to us, the company has not given guarantees for loans taken by others from banks and financial institutions. Accordingly, the provisions of clause 4(XV) of the companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(xvi) The company has not taken any term loan during the year. Accordingly, the provisions of clause 4 (xvi) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(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 the no funds raised on short-term basis have been used for long-term investment. No long- term funds have been used to finance short-term assets except permanent working capital.

(xviii) The company has not made any preferential allotment of shares to parties and companies covered under section 301 of the Act. Accordingly clause 4 (xviii) of the Companies (Auditor''s Report) Order, 2003 is not applicable to the company.

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

(xx) The company has not raised any additional capital during the year under review. Accordingly, the provisions of clause 4(xx) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

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

FOR U. B. SURA & CO.,

CHARTERED ACCOUNTANTS

FRNO: 110620W

PLACE: MUMBAI U.B.SURA

DATED: 30.05.2013 PROPRIETOR

MEMBERSHIP NO: 32026

---

Mar 31, 2012

1. We have audited the attached Balance Sheet of EASY FINCORP LIMITED as at March 31, 2012, the Statement of Profit and Loss and also the Cash Flow Statement of the company 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 a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditors' Report) Order, 2003 issued by the Central Government of India and as amended by notification dated 25th November 2004, in terms of Section 227 (4A) of the Companies Act, 1956 we set out in the Annexure a statement on the matters specified in paragraphs 4 & 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 explanation, which to the best of our knowledge and belief, were necessary for the purpose of our audit;

ii. In our opinion, proper books of accounts, as required by law, have been kept by the Company, so far as appears from our examination of such books.

iii. The Balance Sheet, the Statement of Profit and Loss and the Cash Flow are in agreement with the books of accounts as submitted to us;

iv. In our opinion, and to the best of our information the Balance Sheet and Statement of Profit & Loss comply with the accounting standards referred to in section 211(3C) of the Companies Act, 1956.

v. Based on the written representations made by the Directors, of the company, none of the Directors are disqualified as on March 31, 2012 from being appointed as a Director under section 274 (1) (g) of the Companies Act, 1956.

vi. In our opinion, and to the best of our information and according to the explanations submitted to us, the said accounts and read together with the notes thereon gives information required by the Companies Act, 1956 in the manner so required and give a true and fair view:-

a. In the case of Balance Sheet, of the state of affairs of the Company as at March 31,2012 and

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 for the year ended on that date.

ANNEXURE TO THE AUDITORS' REPORT

(Referred to in paragraph 3 of the Auditors' Report of even date to the Shareholders of EASY FINCORP LIMITED) on the accounts for the year ended on March 31, 2012)

(i) The company does not have any fixed assets and therefore, the provisions of clause (i) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

(ii) The company does not have any inventories and therefore, the provisions of clause (ii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

(iii) (a) The company has not granted unsecured loans to any parties covered in the register maintained under section 301 of the Act and therefore sub-clause

(a) to (d) of clause (iii) of the order is not applicable to the company.

(b) The company has not taken unsecured loans from any parties covered in the register maintained under section 301 of the Act any and therefore sub- clause (e) to (g) of clause (iii) of the order is not applicable to the company.

(iv) 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.

(v) There were no transactions that need to be entered in the register maintained in pursuance of Section 301 of the Companies Act, 1956 and therefore clause (v) of the order is not applicable to the company.

(vi) The company has not accepted deposits from the public as envisaged in the provisions of sections 58A and 58AA of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975.

(vii) The company has an in-house internal audit system, commensurate with the size and nature of its business.

(viii) As per the information and explanation provided to us, the maintenance of Cost records has not been prescribed by the Central Government under section 209 (1) (d) of the Companies Act, 1956.

(ix) (a) As per the records produced before us, the company was regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees' state insurance, income tax, sales tax, customs duty, excise duty, cess and other material statutory dues applicable to it.

(b) On the basis of the books and records and according to the information and explanations given to us, there were no disputed amounts payable in respect of income tax, sales tax, cess etc. that needed to be deposited with the appropriate authorities

(x) The company has accumulated losses at the end of the financial year in excess of fifty percentage of its net-worth. The company has incurred cash profit during the financial year covered by our audit and in the immediate preceding financial year.

(xi) The company has not taken any loans from banks, financial institutions or on debentures. Therefore, the provisions" of clause 4 (xi) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

(xii) The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Therefore, the provisions of clause 4 (xii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

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

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

(xv) As per the information furnished, to us the company has not given guarantees for loans taken by others from banks and financial institutions. Accordingly, the provisions of clause 4(XV) of the companies (Auditor's Report) Order, 2003 are not applicable to the company.

(xvi) The company has not taken any term loan during the year. Accordingly, the provisions of clause 4 (xvi) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

(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 the no funds raised on short-term basis have been used for long-term investment. No long- term funds have been used to finance short-term assets except permanent working capital.

(xviii)The company has not made any preferential allotment of shares to parties and companies covered under section 301 of the Act. Accordingly clause 4 (xviii) of the Companies (Auditor's Report) Order, 2003 is not applicable to the company.

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

(xx) The company has not raised any additional capital during the year under review. Accordingly, the provisions of clause 4(xx) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

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

FOR U. B. SURA & CO

CHARTERED ACCOUNTANTS

FIRM REG NO 110620 W

Sd/-

PLACE: MUMBAI U.B.SURA

DATED: 30th May, 2012 PROPRIETOR

MEMBERSHIP NO: 32026

---

Mar 31, 2011

1. We have audited the attached Balance Sheet of EASY FINCORP LIMITED as at March 31, 2011, the Profit and Loss Account and also the Cash Flow Statement of the company 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 a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made, by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditors' Report) Order, 2003 issued by the Central Government of India and as amended by notification dated 25th November 2004. in terms of Section 227 (4A) of the Companies Act, 1956 we set out in the Annexure a statement on the matters specified in paragraphs 4 & 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 explanation, which to the best of our knowledge and belief, were necessary for the purpose of our audit;

ii. In our opinion, proper books of accounts, as required by law, have been kept by the Company, so far as appears from our examination of such books.

iii. The Balance Sheet, the Profit and Loss Account and the Cash Flow are in agreement with the books of accounts as submitted to us;

iv. In our opinion, and to the best of our information the Balance Sheet and Profit & Loss Account comply with the accounting standards referred to in section 211(3C) of the Companies Act. 1956.

v. Based on the written representations made by the Directors, of the company, none of the Directors are disqualified as on March 31, 2011 from being appointed as a Director under section 274 (1) (g) of the Companies Act, 1956.

vi. In our opinion, and to the best of our information and according to the explanations submitted to us, the said accounts and read together with the notes thereon gives information required by the Companies Act, 1956 in the manner so required and give a true and fair view:-

a. In the case of Balance Sheet, of the state of affairs of the Company as at March 31, 2011 and

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

ANNEXURE TO THE AUDITORS' REPORT

(Referred to in paragraph 3 of the Auditors' Report of even date to the Shareholders of EASY FINCORP LIMITED) on the accounts for the year ended on March 31,2011)

(i) The company does not have any fixed assets and therefore, the provisions of clause (i) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

(ii) The company does not have any inventories and therefore, the provisions of clause (ii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

(iii) (a) The company has not granted unsecured loans to any parties covered in the register maintained under section 301 of the Act and therefore sub-clause (a) to (d) of clause (iii) of the order is not applicable to the company.

(b) The company has not taken unsecured loans from any parties covered in the register maintained under section 301 of the Act any and therefore sub- clause (e) to (g) of clause (iii) of the order is not applicable to the company.

(iv) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures so as to 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.

(v) In respect of the transactions that need to be entered in the register maintained in pursuance of Section 301 of the Companies Act, 1956:

(a) To the best of our knowledge and belief and according to the information and explanations given to us, transactions that needed to be entered into the register have been so entered.

(b) According to the information and explanations provided to us, where each of such transactions (excluding loans reported under paragraph (iii) above) in excess of the value of Rs.5.001acs in respect of any such party, the transaction have generally been made at the prices which are reasonable having regard to the prevailing market price.

(vi) The company has not accepted deposits from the public as envisaged in the provisions of sections 58A and 58AA of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975.

(vii) The company has an in-house internal audit system, commensurate with the size and nature of its business.

(viii) As per the information and explanation provided to us, the maintenance of Cost records has not been prescribed by the Central Government under section 209 (1) (d) of the Companies Act. 1956.

(ix) (a) As per the records produced before us, the company was regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees' state insurance, income tax, sales tax, customs duty, excise duty, cess and other material statutory dues applicable to it.

(b) On the basis of the books and records and according to the information and explanations given to us, there were no disputed amounts payable in respect of income tax, sales tax, cess etc. that needed to be deposited with the appropriate authorities

(x) The company has accumulated losses at the end of the financial year in excess of fifty percentage of its net-worth. The company has incurred cash profit during the financial year covered by our audit and in the immediate preceding financial year.

(xi) The company has not taken any loans from banks, financial institutions or on debentures. Therefore, the provisions of clause 4 (xi) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

(xii) The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Therefore, the provisions of clause 4 (xii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

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

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

(xv) As per the information furnished to us, the company has not given guarantees for loans taken by others from banks and financial institutions. Accordingly, the provisions of clause 4(XV) of the companies (Auditor's Report) Order, 2003 are not applicable to the company.

(xvi) The company has not taken any term loan during the year. Accordingly, the provisions of clause 4 (xvi) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

(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 the no funds raised on short-ierm basis have been used for long-term investment. No long- term funds have been used to finance short-term assets except permanent working capital.

(xviii) The company has not made any preferential allotment of shares to parties and companies covered under section 301 of the Act. Accordingly clause 4 (xviii) of the Companies (Auditor's Report) Order, 2003 is not applicable to the company.

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

(xx) The company has not raised any additional capital during the year under review. Accordingly, the provisions of clause 4(xx) of the Companies (Auditor's Report) Order, 2003 are not applicable to the company.

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

FOR U. B. SURA & CO

CHARTERED ACCOUNTANTS

FIRM REG NO 110620 W

PLACE: MUMBAI U.B.SURA

DATED: 29th August, 2011 PROPRIETOR

MEMBERSHIP NO: 32026

---

Mar 31, 2010

1. We have audited the attached Balance Sheet of EASY FINCORP LIMITED as at March 31, 2010, the Profit and Loss Account and also the Cash Flow Statement of the company for the year ended on that date annexed thereto. These financial statements are the responsibility of the companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

3. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government of India and as amended by notification dated 25th November 2004, in terms of Section 227 (4A) of the Companies Act, 1956 we set out in the Annexure a statement on the matters specified in paragraphs 4 & 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 explanation, which to the best of our knowledge and belief, were necessary for the purpose of our audit;

ii. In our opinion, proper books of accounts, as required by law, have been kept by the Company, so far as appears from our examination of such books.

iii. The Balance Sheet, the Profit and Loss Account and the Cash Flow are in agreement with the books of accounts as submitted to us;

iv. In our opinion, and to the best of our information the Balance Sheet and Profit & Loss Account comply with the accounting standards referred to in section 211(3C) of the Companies Act, 1956.

v. Based on the written representations made by the Directors, of the company, none of the Directors are disqualified as on March 31, 2010 from being appointed as a Director under section 274 (1) (g) of the Companies Act, 1956.

vi. In our opinion, and to the best of our information and according to the explanations submitted to us, the said accounts and read together with the notes thereon gives information required by the Companies Act, 1956 in the manner so required and give a true and fair view:-

a. In the case of Balance Sheet, of the state of affairs of the Company as at March 31, 2010 and

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



ANNEXURE TO THE AUDITORS REPORT (Referred to in paragraph 3 of the Auditors Report of even date to the Shareholders of EASY FINCORP LIMITED (FORMERLY WEIZMANN FINCORP LIMITED)

on the accounts for the year ended on March 31, 2010)

(i) The company does not have any fixed assets and therefore, the provisions of clause (i) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

(ii) The company does not have any inventories and therefore, the provisions of clause (ii) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

(iii) (a) The company has not granted unsecured loans to any parties covered in the register maintained under section 301 of the Act and therefore sub-clause (a) to (d) of clause (iii) of the order is not applicable to the company.

(b) The company has not taken unsecured loans from any parties covered in the register maintained under section 301 of the Act any and therefore sub- clause (e) to (g) of clause (iii) of the order is not applicable to the company.

(iv) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures so as to 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.

(v) In respect of the transactions that need to be entered in the register maintained in pursuance of Section 301 of the Companies Act, 1956:

(a) To the best of our knowledge and belief and according to the information and explanations given to us, transactions that needed to be entered into the register have been so entered.

(b) According to the information and explanations provided to us, where each of such transactions (excluding loans reported under paragraph (iii) above) in excess of the value of Rs.5.001acs in respect of any such party, the transaction have generally been made at the prices which are reasonable having regard to the prevailing market price.

(vi) The company has not accepted deposits from the public as envisaged in the provisions of sections 58A and 58AA of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975.

(vii) The company has an in-house internal audit system, commensurate with the size and nature of its business.

(viii) As per the information and explanation provided to us, the maintenance of Cost records has not been prescribed by the Central Government under section 209 (1) (d) of the Companies Act, 1956.

(ix) (a) As per the records produced before us, the company was regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees state insurance, income tax, sales tax, customs duty, excise duty, cess and other material statutory dues applicable to it.

(b) On the basis of the books and records and according to the information and explanations given to us, there were no disputed amounts payable in respect of income tax, sales tax, cess etc. that needed to be deposited with the appropriate authorities

(x) The company has accumulated losses at the end of the financial year in excess of fifty percentage of its net-worth. The company has incurred cash profit during the financial year covered by our audit and in the immediate preceding financial year.

(xi) The company has not taken any loans from banks, financial institutions or on debentures. Therefore, the provisions of clause 4 (xi) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

(xii) The company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Therefore, the provisions of clause 4 (xii) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

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

(xiv) The company is not trading in shares, securities, debentures and other investments. Therefore, the provisions of clause 4 (xiv) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

(xv) As per the information furnished to us, the company has not given guarantees for loans taken by others from banks and financial institutions. Accordingly, the provisions of clause 4(XV) of the companies (Auditors Report) Order, 2003 are not applicable to the company.

(xvi) The company has not taken any term loan during the year. Accordingly, the provisions of clause 4 (xvi) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

(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 the no funds raised on short-term basis have been used for long-term investment. No long- term funds have been used to finance short-term assets except permanent working capital.

(xviii) The company has not made any preferential allotment of shares to parties and companies covered under section 301 of the Act. Accordingly clause 4 (xviii) of the Companies (Auditors Report) Order, 2003 is not applicable to the company.

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

(xx) The company has not raised any additional capital during the year under review. Accordingly, the provisions of clause 4(xx) of the Companies (Auditors Report) Order, 2003 are not applicable to the company.

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

FOR U.B.SURA&CO

CHARTERED ACCOUNTANTS

FIRM REG NO 110620 W

PLACE: MUMBAI U.B.SURA

DATED: 26th July, 2010 PROPRIETOR

MEMBERSHIP NO: 32026