Auditor Report of Ekam Leasing & Finance Company Ltd.

Mar 31, 2024

We have audited the standalone financial statements of Ekam Leasing and Finance Co. Limited (“the Company”), which
comprise the Standalone Balance Sheet as at 31 March 2024, the Standalone Statement of Profit and Loss (including Other
Comprehensive Income), the Standalone Statement of Changes in Equity and the Standalone Statement of Cash Flows
for the year then ended, and notes to the standalone financial statements, including a summary of the significant
accounting policies and other explanatory information (hereinafter referred to as “the standalone financial statements”).

In our opinion and to the best of our information and according to the explanations given to us, except for the effects /
possible effects of our observations stated in “Basis for Qualified Opinion” section below, the aforesaid standalone
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 31 March 2024, the Profit and total comprehensive
income, changes in equity and its cash flows for the year ended on that date.

Basis for Qualified Opinion

Attention is drawn to:

a) Pursuant to the provisions of section 203 of the Companies Act, the company is mandated to appoint the Chief
Financial Officer (CFO), we draw attention to the fact that the Company is failed to appoint a Chief Financial Officer
(CFO) throughout the year.

We conducted our audit 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
Standalone Financial Statements section of our report.

We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered
Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the standalone
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 qualified opinion.

Key Audit Matters

Key audit matters (''KAM'') are those matters that, in our professional judgment, were of most significance in our audit of
the standalone financial statements of the current period. These matters were addressed in the context of our audit of the
standalone financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion
on these matters.

We have determined that there are no key audit matters to communicate in our report.

Information Other than the Standalone Financial Statements and Auditor’s report thereon

The Company''s Management and Board of Directors are responsible for the other information. The other information
comprises the information included in the Company''s annual report, Management Discussion and Analysis, Board''s
Report including Annexures to Board''s Report, Shareholders Information, but does not include the standalone financial
statements and our auditors'' report thereon. The other information is expected to be made available to us after the date of
this Auditor''s Report.

Our opinion on the standalone financial statements does not cover the other information and we do not express any form
of assurance conclusion thereon.

In connection with our audit of the standalone financial statements, our responsibility is to read the other information
identified above when it becomes available and, in doing so, consider whether the other information is materially
inconsistent with the standalone financial statements or our knowledge obtained in the audit or otherwise appears to be
materially misstated.

When we read the above information, if we conclude that there is material misstatement therein, we are required to
communicate the matter to those charged with governance and to take actions as per the applicable laws and regulations.

Management’s Responsibilities for the Standalone Financial Statements

The Company''s Board of Directors is responsible for the matters stated in Section 134(5) of the Act with respect to the
preparation of these standalone financial statements that give a true and fair view of the financial position, financial
performance (including other comprehensive income), changes in equity and cash flows of the Company in accordance
with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) 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 of the assets of the Company and for preventing and detecting frauds and other irregularities; selection
and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and
design, implementation and maintenance of adequate internal financial controls that were operating effectively for
ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the
standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud
or error.

In preparing the standalone financial statements, the Company''s management is responsible for assessing the 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 management either intends to liquidate the Company or to cease operations, or has no realistic
alternative but to do so.

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

Auditor’s Responsibilities for the Audit of the Standalone Financial Statements

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

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

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

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

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

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

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and
whether the financial statements represent the underlying transactions and events in a manner that achieves fair
presentation.

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

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

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements
regarding independence, and to communicate with them all relationships and other matters that may reasonably be
thought to bear on our independence, and where applicable, related safeguards.

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors'' Report) Order, 2020 (“the Order”) issued by the Central Government of
India in terms of Section 143(11) of the Act, we give in the “Annexure A” a statement on the matters specified in
paragraphs 3 and 4 of the Order, to the extent applicable.

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

Except for the matter described in the Basis of Qualified Opinion given above, 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;

a. Except for the matter described in the Basis of Qualified Opinion given above and paragraph 2(i)(f) below on
reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 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;

b. The standalone Balance Sheet, the standalone Statement of Profit and Loss (including other comprehensive income),
the Statement of Changes in Equity and the Statement of Cash Flows dealt with by this Report are in agreement with
the books of account;

c. Except for the matter described in the Basis of Qualified Opinion given above, in our opinion, the aforesaid
Standalone financial statements comply with the Accounting Standards specified under Section 133 of the Act,;

d. The modifications relating to the maintenance of accounts and other matters connected therewith are as stated in the
paragraph 2(a) above on reporting under Section 143(3)(b) of the Act and paragraph2(i)(f) below on reporting under
Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014.

e. The matters described in “Basis of Qualified Opinion” paragraph above, in our opinion, may have an adverse effect
on the functioning of the company.

f. On the basis of the written representations received from the directors as on 31 March 2024 taken on record by the
Board of Directors, none of the directors is disqualified as on 31 March 2024 from being appointed as a director in
terms of Section 164(2) of the Act;

g. With respect to the adequacy of the internal financial controls over financial reporting of the Company with
reference to standalone financial statements 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;

h. 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, according to the information and explanation given to us, the Company has
not paid any managerial remuneration during the year;

I. With respect to the other matters to be included in the Auditors'' Report in accordance with Rule 11 of the Companies

(Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations
given to us:

a) The Company does not have any pending litigations on its financial position in its standalone financial
statements.

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

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

d) (a) The Management has represented that, to the best of its knowledge and belief, no funds (which are material
either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or
share premium or any other sources or kind of funds) by the Company to or in any other person or entity,
including foreign entity (“Intermediaries”), with the understanding, whether recorded in writing or otherwise,
that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in
any manner whatsoever by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee,
security or the like on behalf of the Ultimate Beneficiaries;

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

(c) Based on the audit procedures that have been considered reasonable and appropriate in the
circumstances, nothing has come to our notice that has caused us to believe that the representations under sub¬
clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain any material misstatement.

e) The Company has neither declared nor paid any dividend during the year.

f) Based on our examination which included test checks and information given to us, the Company has used
accounting softwares for maintaining its books of account, which did not have a feature of recording audit trail
(edit log) facility throughout the year for all relevant transactions recorded in the respective softwares, hence we
are unable to comment on audit trail feature of the said software.”

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

For M.B. Gupta & Co.

Chartered Accountants
Firm Registration No. 006928N

Mahesh B. Gupta

Partner

Membership No. 085469

UDIN: 24085469BKEZPC9186
Place: Noida
Date: May 30, 2024

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Mar 31, 2014

We have audited the accompanying financial statements of M/s Ekam Leasing & Finance Co. Ltd. ("the Company"), which comprise the Balance Sheet as at March 31, 2014, 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

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position and 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.

Auditor''s Responsibility

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. 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

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

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

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

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

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 said Order to the extent applicable, on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us.

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

a) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

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

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

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

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

Annexure referred to in para (3) of the Auditor''s Report on the accounts of EKAM LEASING AND FINANCE CO. LTD. for the year ended 31st March, 2014.

In our opinion, based on the information and explanations furnished to us and such checks as we considered appropriate in the normal course of our audit, and to the best of our knowledge and belief, we further report that:

1 (a) The company has maintained proper records showing full particulars, including quantative details and situation of fixed assets.

(b) Fixed assets of the company have been physically verified by management as reasonable intervals during the year and no material discrepancies have been noticed on such verification.

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

2 (a) The physical verification of shares inventory has been conducted by the management at reasonable intervals during the year. In our opinion the frequency of such verification is reasonable.

(b) Procedure of physical verification of inventories followed by the management are in our opinion, reasonable and adequate

(c) On the basis of our examination of inventory records, we are of the opinion that the company has maintained proper record of inventory. As far as we can ascertain and according to the information and explanations given to us, the discrepancies noticed on physical verification of inventory as compared to book stocks were not material and the same have been properly dealt with in the books of account.

3. The company has neither granted loans nor taken any loans, secured or unsecured to/from companies, firm, or other parties listed in the registers maintained under Section 301 of the Companies Act, 1956.

4. In our opinion and according to the confirmation and explanation given to us there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods. During the course of our audit no major weakness has been noticed in the internal control.

5. According to information and explanation given to us and based on verification of records, in our opinion, there are no transactions exceeding in value rupees five lacks in respect of any party that need to be entered in the register under Section 301 of the Companies Act, 1956.

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

7. The company has an internal audit system commensurate with the size of the company and the nature of its business.

8. The Company is not a Sick Industrial Company within the meaning of Clause (0) of Sub- Section (1) of Section 3 of the Sick Industrial Companies (Special Provisions) Act, 1988.

9. (a) The company has been regular in depositing undisputed statutory dues including Provident Fund, Employees State Insurance, Sales tax, wealth Tax, Custom Duty, Excise Duty, cess and other statutory dues and generally regular in depositing Income tax with the appropriate authorities.

(b) According to the records of the company there are no dues of Sales tax, Wealth Tax, Custom Duty, Excise Duty, Cess and other statutory dues.

10. The Company has accumulated losses of Rs. 65,18,853/- at the end of the reporting Financial Year.

11. The company has not defaulted in repayment of dues to financial institution or bank.

12. The Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13. The Company is not a nidhi / mutual benefit fund / societies and does not deal or trade in shares, securities, debentures and other investments. Therefore clause (xiii) and (xiv) of paragraph 4 of the Order is not applicable.

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

15. No term loans have been raised during the year.

16. On the basis of an overall examination of financial statements of the Company, there are no funds raised on short-term basis which have been used for long-term investment and vice-versa.

17 During the year the company has not made any preferential allotments of shares to parties and companies covered in the Register maintained under Section 301 of the Companies Act, 1956.

18 The company has not issued any debentures during the year.

19 The company has not raised any money by public issue during the year.

20 On the basis of our examination of books of account and according to the information and explanations provided to us by the management, no fraud on or by the company has been noticed or reported during the year.

For G. L. GUPTA & ASSOCIATES Chartered Accountants

G. L. GUPTA Proprietor Place : New Delhi M.No. 91637 Dated : 20th May, 2014 F.R.No.-0i2483N

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Mar 31, 2010

1) We have audited the attached Balance sheet of EKAM LEASING AND FINANCE CO. LTD, as at 31st March, 2010 and also the Profit and Loss Account 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, as amended by the Companies (Auditors Report) Order 2004 (together the "Order") issued by the Central Government of India in terms of Section 227(4A) of the Companies Act, 1956, and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us during the course of the audit, we enclose in the Annexure hereto a statement on the matters specified in paragraphs 4 and 5 of the said Order:

4.) Further to our comments in the annexure referred to in paragraph (3) above, We state 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 account as required by law have been kept by the company so far as it appears from our examination of such books.

iii) The Balance sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of accounts as submitted to us.

vi) In our opinion, the Profit and Loss Account and Balance Sheet comply with accounting standards referred to Section 211 (3C) of the Companies Act, 1956, in so far as they apply to the company.

v) On the basis of information and explanations given to us and representations received from the Directors of the Company, we report that no Director is disqualified from being appointed as Director of the Company under clause (g) of sub-section (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 statements of accounts read together with the notes thereon give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view:

a) In the case of the Balance Sheet, of the State of Affairs of the Company as at 31st March 2010.

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

5 ) With regard to Non-Banking Financial Companies Auditors Report (Reserve Bank) Directions 1998.

i) The company is holding Certificate of Registration issued by Reserve Bank of India to act as Non Banking Financial Institution and that the company is entitled to continue to hold such certificate in terms of asset / income pattern as on March 31, 2010.

ii) The Board of Directors has passed a resolution for non acceptance of any Public deposit as confirmed by the management.

iii) The Company has not accepted any public deposits during the year ended 31st March, 2010.

iv) , The Company has complied with the prudential norms as amended, relating to income recognition, accounting standards, assets classification and provision for bad and doubtful debts as applicable to it.

ANNEXURE TO THE AUDITORS REPORT

Annexure referred to in para (3) of the Auditors Report on the accounts of EKAM LEASING AND FINANCE CO. LTD. for the year ended 31st March, 2010.

In our opinion, based on the information and explanations furnished to us and such checks as we considered appropriate in the normal course of our audit, and to the best of our knowledge and belief, we further report that:

1 (a) The company has maintained proper records showing full particulars, including quantative details and situation of fixed assets.

(b) Fixed assets of the company have been physically verified by management as reasonable intervals during the year and no material discrepancies have been noticed on such verification.

(c) No fixed assets has been dispose off during the year.

2 (a) The physical verification of shares inventory has been conducted by the management at reasonable intervals during the year. In our opinion the frequency of such verification is reasonable.

(b) Procedure of physical verification of inventories followed by the management are in our opinion, reasonable and adequate

(c) On the basis of our examination of inventory records, we are of the opinion that the company has maintained proper record of inventory. As far as we can ascertain and according to the information and explanations given to us, the discrepancies noticed on physical verification of inventory as compared to book stocks were not material and the same have been properly dealt with in the books of account.

3 The company has neither granted loans nor taken any loans, secured or unsecured to/from companies, firm, or other parties listed in the registers maintained under Section 301 of the . Companies Act, 1956.

4 In our opinion and according to the confirmation and explanation given to us there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets and for the sale of goods. During the course of our audit no major weakness has been noticed in the internal control.

5 According to information and explanation given to us and based on verification of records, in our opinion, there are no transactions exceeding in value rupees five lacks in respect of any party that need to be entered in the register under Section 301 of the Companies Act, 1956.

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

7. The company has an internal audit system commensurate with the size of the company and the nature of its business.

8 The Company is not a Sick Industrial Company within the meaning of Clause (0) of Sub- Section (1) of Section 3 of the Sick Industrial Companies (Special Provisions) Act, 1988.

9 (a) The company has been regular in depositing undisputed statutory ues including Provident Fund, Employees State Insurance, Sales tax, wealth Tax, Custom Duty, Excise Duty, cess and other statutory dues and generally regular in depositing Income tax with the appropriate authorities.

b) According to the records of the company there are no dues of Sales tax, Wealth Tax, Custom Duty, Excise Duty, Cess and other statutory dues.

10.) The Company has accumulated losses of Rs. 1,15,03,156/- at the end of the reporting Financial Year.

11 The company has not defaulted in repayment of dues to financial institution or bank.

12. The Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13 The Company is not a nidhi / mutual benefit fund / societies and does not deal or trade in shares, securities, debentures and other investments. Therefore clause (xiii) and (xiv) of paragraph 4 of the Order is not applicable.

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

15. No term loans have been raised during the year.

16 On the basis of an overall examination of financial statements of the Company, there are no funds raised on short-term basis which have been used for long-term investment and vice- versa.

17 During the year the company has not made any preferential allotments of shares to parties and companies covered in the Register maintained under Section 301 of the Companies Act, 1956.

18 The company has not issued any debentures during the year.

19 The company has not raised any money by public issues during the year.

20 On the basis of our examination of books of account and according to the information and explanations provided to us by the management, no fraud on or by the company has been noticed or reported during the year.



for G L GUPTA & ASSOCIATES

CHARTERED ACCOUNTANTS

G. L. GUPTA

PROPRIETOR

M.No.91637

PLACE : NEW DELHI Firm Reg. No. 012483N

DATED : 01.09.2010