Auditor Report of F Mec International Financial Services Ltd.

Mar 31, 2024

We have audited the accompanying Financial Statements of F MEC INTERNATIONAL FINANCIAL SERVICES LIMITED (the “Company”), which comprise the Balance Sheet as at March 31, 2024, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the Statement of Cash Flows for the year ended on that date and notes to the Financial Statements, including a summary of material accounting policies and other explanatory information (hereinafter referred to as the “Financial Statements”).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Financial Statements give the information required by the Companies Act. 2013 (the “Act”) in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act, (“Ind AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2024 and its profit, total comprehensive income, changes in equity and its cash flows for the year ended on that date.

'' Basis for Opinion

We conducted our audit of the Financial Statements in accordance with the Standards on Auditing (“SA”s) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (“ICAI”) together with the ethical requirements that are relevant to our audit of the Financial Statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the Financial Statements.

Key Audit Matters

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

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

The Company’s Board of Directors is responsible for the other information. The other information comprises the information included in the Board’s Report including Annexures to Board’s Report, Corporate Governance and Shareholder’s Information, but does not include the Financial Statements and our auditor’s report thereon.

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

• In connection with our audit of the Financial Statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the Financial Statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Financial Statements

The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these Financial Statements that give a true and fair view of the financial position, financial performance, including other comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including 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 leasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Financial Statements, management and Board of Directors 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 Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

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

Auditor’s Responsibilities for the Audit of the Financial Statements

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

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

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

• Obtain an understanding of internal financial control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section I43(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.

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

• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s 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 misstatement^ in the Financial Statements that, individually or in aggregate, makes it probable thaJ^ieN^^gmic decisions of a reasonably knowledgeable user of

the Financial Statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) 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 of the current period and are therefore the key audit matters. We describe these matters in our auditor''s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143(3) of the Act, based on our audit we report that:

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

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

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

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

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

f) With respect to the adequacy of the internal financial controls with reference to Financial Statements of the Company and ^e operating effectiveness of such controls, refer to our separate Report in “Annexure A”. Our report expresses an unmodified opinion on the adeauacy and operating effectiveness of the Company’s internal financial controls with reference to Financial Statements.

g) With respect to the other matter 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, the remuneration paid/ provided by the Companv to its directors during the year is in accordance with the provisions of section 197 of the Act.

h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as amended, in our opinion and to the best of our information and according to the explanations given to us:

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

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

iii. There were no amounts which required to be transferred to the Investor Education and Protection Fund by the Company.

iv. (a) The Management has represented that, to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or 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 clause (i) and (ii) of Rule 11 (e), as provided under (a) and (b) above, contain any material misstatement.

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

vi. Based on our examination which included test checks, the company has used an accounting software (Tally Prime Edit Log) for maintaining its books of account the financial year ended March 31, 2024 which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software. Further, during the course of our audit we did not come across any instance of audit trail feature being tampered with.

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

2. As required by the Companies (Auditor’s Report) Order, 2020 (the "Order") issued by the Central Government in terms of Section 143(11) of the Act, we give in "Annexure B" a statement on the matters specified in paragraphs 3 and 4 of the Order.

For SANJAY K SINGHAL & CO Chartered Accountants FRN02480J^^^\

ff*h(DELHI \V\\

(Sanjay Kumar Singhal)

Partner M. No. 503475

UDIN: 24503475BKFLFV6223

Place: Delhi Date: 29/05/2024

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Mar 31, 2023

We have audited the accompanying financial statement* of F MFC INTERNATIONAL FINANCIAL SERVICES LI MCI ED < the "Company ). which comprise the Balance Sheet as at March 31. 2023. the statement ol" Profit and Loss (ineluding Other (.. omprclictiso v Incomci, the Statement of Changes in Equity and the Statement of Cash Flows for the year ended on that date and a summary of significant accounting policies and other explanatory information (hereinafter referred to ns the ""financial statements ).

In our opinion and to the best of out information and according to the explanations given to us. the aforesaid financial statements give the information required by the Companies Act. 201 3 (the “Act") tn the manner so required end give a true and fair view in conformity with ihe Indian Accounting Standards prescribed under section 133 of the Acl read w ith the t omparties I Indian Accounting Standards) Rules. 21115, as amended, (“tud -VS") and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31. 21123 and its profit, total comprehensive income, changes in equity and its cash flows for the year ended on that date.

Basis lor Opinion

We conducted our audit of the financial statements in accordance with Standard* on Auditing (**SA”s) specified under.section I43( 10) of the Act Our responsibilities under those Standards arc further described in the Auditor''s Responsibilities for the Audit of the Financial Statement section of our report We are independent of the Company in accordance with the-t. ode of I .hies 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 provision* of the Act and the Rules made thereunder, and wc have fulfilled our other ethical responsibilities- in accordance with these requirements and the ICAI s Code of Ethics. We believe hat the audit evidence we have obtained by us is sufficient and appropriate to provide a basis tor our audit opinion on the financial statements

Key Audit Matters

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

Information Oilier than the Financial Slate men is and Auditor’s Report Thereon

The Company''s Board of Directors is responsible for the other information, lhe other information comprises the information included in the Management Discussion and Analysis, Board''s RcfVirt including Annexures to Hoard''s Report. Corporate Governance Report and Shareholder’s information, hut dues not include the financial statements and our auditor’s report thereon

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

Irt connection with our audit of the financial statements, our responsibility is to read the other information and. in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated

If. based on the work we have performed, we conclude that there is a material mivdutemcni of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of .Management anil Those Charged with Governance for the r''ilianctul Statements

I he Company''s Board of Directors is responsible lor the matters stated in section 134(5) of the Act with respect to the preparation of these financial statements that give a true and lair view of the financial position, financial performance, including other comprehensive income, changes in equity and cosh Hows of the Company in accordance with the Ind AS and other accounting principles generally accepted in India, this responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act tor safeguarding of the assets of ihe Company and for preventing and detecting frauds and other irregularities selection and application of appropriate accounting policies; making judgments and estimates that tire reasonable und prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring ihe accuracy and completeness of the accounting records, relevant to die preparation and presentation of the financial statements that give a true and lair view and are free from material misstatement, whether due to Iruud or emir.

In preparing the financial statements, management is responsible for assessing the Company''» ability to continue us a going concern, disclosing, as applicable Hinders related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative hut to do so.

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

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

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materia! misstatement, whether due to fraud or error, and to issue an auditor''s report that includes our opinion. Reasonable assurance is n high level of assurance, but re not a

guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it cunts. Misstatements can arise from fraud or error and arc 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 pan 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 Iraud 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

• Obtain an understanding of internal financial control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. I ''ndcr -eelton Mil l)(i| of the Act, we are also responsible lor expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.

• Tvaluate 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 muterinl uncertainty exists related to events or conditions that may cast significant douht on the Company''s ability to continue as a going concern. If wc conclude that a material uncertainty exists wc 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 tJur conclusions are based on the audit evidence obtained up to the date of our auditor''s However, future events or conditions may cause the Company to cease to continue as u going concern.

• Tvaluate the overall presentation, structure and content of the financial statements, including the disclosures, und whether the financial statements represent die underlying transactions and events in a manner that achieves lair presentation

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

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

Wc oJso 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 w ilh those charged with governance, vve determine those matters that wore of most significance in the uudit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor''s report unless law or regulation precludes public disclosure about the matter or w hen, in extremely rare circumstances, we determine that a matter should not he communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public inter cst benefits of such communication.

Report on Other Legal and Regulatory Requirements

I. As required by Section 143(3) of the Act, based on our audit we repun that:

») Wc have sought and obtained all the information and explanations which to the best of out 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 appeals from our examination of those books.

c) The Balance Sheet, the Statement of Profit and Loss including Other ( unprchensivc Income. Statement of Changes in Equity and die Statement of Cash Flows deall with by this Report urc in agreement with the books of account,

d) In our opinion, the aforesaid financial statements comply with the Ind VS spec died under Section 133 of the Act.

e) On the basis of the written representations received from the direct* tv as *m March 31, 2023 and taken on record by the Hoard oflJirectors. none of the directors is disqualified js on March 31, 2023 from hong appointed as a director in terms of section ih4 (2) f the Act.

0 With respect to the adequacy of the internal financial controls with reference to tinanciul statements of the Company and the operating effectiveness of such controls, refer u> our separate Report m Atmcxure A”. Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the Company’s internal financial controls with reference to financial statements.

g) With respect to the other matter to he 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, the remuneration paid/ provided by the Company to its directors during the year is in accordance with the provisions of section 197 of the Act

h) With respect to tlie other mtittcrs to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules. 21)1 J as amended, in our opinion and to the best of our information and according to the explanations given to us

t. Hie Company docs not have any pending litigations which would impact its financial position.

ii. The Company did not have any long-term contracts including derivatives contracts for w hicli there were any material foreseeable losses

lit. There were no amounts which required to be transferred to the Investor bducnlton und Protection l and by the Company

iv. (a) The Management has represented thut. to the best of its knowledge und 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 ( ompany 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 (“I Utimatc Beneficiaries'') or provide any guarantee, security or the like on behalf of the Ultimate beneficiaries:

(h) I he 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 uthcr 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 behalfof 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 clause (i) and (ii) id Rule II (c) as provided under (a) and (b) above, contain any material misstatement

v. The Company has not declared or puid any dividend during the year

vi. Proviso to Rule 3(1) of the Companies (Accounts) Rules. 2014 for maintaining books of account using accounting software which has u feature of recording audit trail (edit log) facility is applicable to the Company with effect from April 1.2023. and accordingly, reporting under Rule 11(g) of Companies (Audit and \udimrs) Rules, 2014 is rtot applicable for the financial year ended March 31. 2023.

2. As required by die Companies (Auditor''s Report) Order, 2020 (the "Order") issued b\ the Centra) Government in terms of Section |43( 11) ofthe Act. we give in Annesnre M a statement on the matters specified in paragraphs 3 and -1 of the Order.

For SANJAY K SINCHAL & CO Chartered Accountants FRN024SQ 7!^^^ _t

(Sanjay Kumar Stngh-d)

Partner

M. No. 503475

LDIN: 23503475BGSVVAV8764

Place: Delhi

Dale: 29/05/2023

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Mar 31, 2015

We have audited the attached Balance Sheet of F Mec INTERNATIONAL FINANCIAL SERVICES LIMITED as at 31st March, 2015, and the Statement of Profit & Loss and cash flow statement of the Company 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, financial performance and cash flows of the company in accordance with accounting principles generally accepted in India, including the Accounting standards notified under the section 133 of the Companies Act, 2013, read with Rule 7 Companies( Accounts) Rules,2014. 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 risks assessments, the auditor considers internal control relevant to the Company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

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 the affairs of the company as at 31st March, 2015;

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, 2015, issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, we enclose in the Annexure, a statement on the matters specified in paragraph 4 and 5 of the said order.

2. As required by Section 143(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 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, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in section 133 of the Companies Act, 2013, read with Rule 7 Companies( Accounts) Rules,2014;

e. On the basis of written representations received from the directors as on 31st March, 2014 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March, 2014 from being appointed as a director in terms of terms of section 164(2) of the Act;

f. With respect to the adequacy of the Internal financial controls over financial reporting of a company and the operating effectiveness of such control

g. With respect to the other matters to be included in Auditor's report in accordance with Rule 11 of the Companies (Audit & Auditors)Rules, 2014, in our opinion and best to our information and according to the explanations given to us:

(i) The company does not have any pending litigations which would impact its financial position.

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

(iii) There were no amounts which were required to be transferred to the Investor Education and Protection fund by the Company.

(As mentioned in Para 3 to Auditor's Report to the members of M/s F Mec INTERNATIONAL FINANCIAL SERVICES LIMITED for the year ended 31st March, 2015)

1. The Company has neither acquired nor having any fixed assets for the year ended 31.03.2015

2. (i) the company has a inventory of shares only.

(ii) the procedures of physical verification of inventory followed by the management reasonable and adequate in relation to the size of the company and the nature of its business

(iii) the company has maintained proper records of inventories. As explained to us, there were no material discrepancies noticed on physical verification of inventories as compared to the book records.

3. The company has not granted any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 189 of the Act.

4. In our opinion and according to the information and explanation given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of inventory and fixed assets and also for the sale of goods and services. During the course of our audit, we have not observed any major weakness in internal control system.

5. The Company has not accepted any deposits from the public covered under Section 73 to 76 of the Companies Act, 2013.

6. As informed to us, the Central Government has not prescribed maintenance of cost records under sub- section (1) of Section 148 of the Act

7. (a) According to the information and explanations given to us and based on the records of the company examined by us, the company is regular in depositing the undisputed statutory dues, including Provident Fund, , Employees' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty and other material statutory dues, as applicable, with the appropriate authorities in India ;

(b) According to the information and explanations given to us and based on the records of the company examined by us, there are no dues of Income Tax, Wealth Tax, Service Tax, Sales Tax, Customs Duty and Excise Duty which have not been deposited on account of any disputes

(c) There has not been an occasion in case of the Company during the year under report to transfer any sums to the Investor Education and Protection Fund. The question of reporting delay in transferring such sums does not arise

8. According to the records of the company examined by us and as per the information and explanations given to us, the company has not availed of any loans from any financial institution or banks and has not issued debentures.

9. In our opinion, and according to the information and explanations given to us, the Company has not given any guarantee for loan taken by others from a bank or financial institution during the year

10. In our opinion, and according to the information and explanations given to us, the company has not raised any term loans during the year

11. During the course of our examination of the books and records of the company, carried in accordance with the auditing standards generally accepted in India, we have neither come across any instance of fraud on or by the Company noticed or reported during the course of our audit nor have we been informed of any such instance by the Management.

For RAJESH RANJIT & Co Chartered Accountants FRNO.- 021745N

RAJESH KUMAR Place : Delhi Partner Dated : 28.05.2015 M No. - 506726

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Mar 31, 2014

We have audited the attached Balance Sheet of F Mec INTERNATIONAL FINANCIAL SERVICES LIMITED as at 31st March, 2014, and the Statement of Profit 86 Loss and cash flow statement of the Company 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, financial performance and cash flows of the company in accordance with accounting principles generally accepted in India, including the Accounting standards notified under the companies Act, 1956 read with General circular 15/2013 dated 13 September 2013, issued by the Ministry of Corporate Affairs, in respect of section 133 of the Companies Act, 2013. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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 risks assessments, the auditor considers internal control relevant to the Company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

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 companies Act, 1956 ("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 the affairs of the company as at 31st March, 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, issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure, a statement on the matters specified in paragraph 4 and 5 of the said 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 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, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (30) of section 21 1 of the Companies Act, 1956;

e. On the basis of written representations received from the directors

as on 31st March, 2014 and taken on record by the Board of Directors, we report that 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 Companies Act, 1956;

f. In our opinion, and to the best of our information and according to explanations given to us, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give a true and far view in conformity with the accounting principles generally accepted in India;

(Referred to in paragraph 3 of our report of even date)

Annexure reffered to in our report of even date

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

(b) Fixed assets have been physically verified by the management during the year and no material discrepencies were identified on such verification.

(c) There was no substantial disposal of fixed assets during the year

(ii) (a) The Company is a Non-Banking Financial Company ('NBFC') engaged in the business of providing loans and advances and does not have inventory. Therefore, the provisions of clause 4(ii) of the order are not applicable to the Company.

iii) (a) According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 301 of the Act. Accordingly, the provisions of clause 4(iii)(a) to (d) of the Order are not applicable to the Company and hence not commented upon.

(b) According to Information and explanations given to us, the Company has taken Rs. 0.34 Lacs from its subsidiary company. There are no other parties covered in the registered maintained under section 301 of the Act. Accordingly, the provisions of clause 4(iii) (e) to (g) of the order are not applicable to the Company and hence not commented upon.

(iv) In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the company and the nature of its business, for the purchase of fixed assets and for rendering of services. The activities of the company do not involve purchase of inventory and sale of goods. During the course of our audit, no major weakness has been noticed in the internal control system in respect of these areas. During the course of our audit , we have not observed any continuing failure to correct major weakness in internal control system in respect of these areas.

(V) According to the information & explanations provided by the management, we are of the opinion that there are no contracts or arrangements that need to be entered in the register maintained under section 301 of the act. Accordingly, the provisions of clause 4(v)(b) of the order is not applicable to company and hence not commented upon.

(vi) The Company has not accepted any deposits from the public.

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

(viii) The provisions of clause 4(viii) of the Order are not applicable to the company in the year under audit and hence not reported upon.

(Xi)(a) Undisputed statutory dues including employee's state insurance, cess and other material statutory dues have generally been regularly deposited with the appropriate authorities.

As informed, provisions of investor education and protection fund, sales tax, wealth tax, custom duty and excise duty are currently not applicable to the company.

(b) According to the information and explanation given to us, no undisputed amounts payment in respect of provident fund, employees state insurance, income tax, service tax, cess and other undisputed statutory dues (except listing fees of Rs. 2,39,873/-) were outstanding, at the year end, for a period of more than six months from the date they became payable(except listing fees of Rs. 2,39,873/-).

As informed, provisions of investor education and protection fund, sales tax, wealth tax, custom duty and excise duty are currently not applicable to the Company.

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

As informed, provisions of investor education and protection fund, sales tax, wealth tax, custom duty and excise duty are currently not applicable to the company.

(X) The company has no accumulated losses at the end of the financial year and it has no incurred cash loss in the current and immediately preceding financial year.

(Xi) Best on our audit procedures and as per the information and explanations given by the management has not defaulted in repayment of dues to financial institutions and banks,

Xii) According to the information and explanations given to us and based on the examination of documents and record produced to us, the company has maintained adequate records where the company has granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

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 order are not applicable to the company.

Xiv) In respect of dealing/ trading in shares, securities, debentures and other investment, in our opinion and according to the information and explanations given to us, proper records have been maintained of the transactions and contracts and timely entries have been made therein. The shares, securities, debentures and other investment have been held by the company, in its own name.

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

Xvi) The company did not have any term loans outstanding during the year.

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

Xviii) The company has not made any preferential allotment of shares to parties or companies covered in the register maintained under section 301 of the Act.

Xix) The company did not have any outstanding debentures during the year.

XX) The company has not raised money through public issue during the year.

XXI) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the year.

For RAJESH RAN JIT & Co Chartered Accountants FRNO.-02174SN

RAJESH KUMAR Partner Place : Delhi M No.- 506726

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Mar 31, 2013

1. We have audited the attached Balance Sheet of FMec INTERNATIONAL FINANCIAL SERVICES LIMITED as at 31st March, 2013, and also the Profit & Loss Account and the cash flow statement of the Company for the year ended on that date annexed thereto. These -financial statements are the responsibility of the Company management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those 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 the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor's Report) Order, 2003, issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure, a statement on the matters specified in paragraph 4 and 5 of the said order.

4. Further to our comments I the Annexure referred to in the paragraph 3 above, we report that:-

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

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

c. The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account;

d. In our opinion, the Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956;

e. On the basis of written representations received from the directors as on 31st March, 2013 and taken on record by the Board of Directors, we report that 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 Companies Act, 1956;

f. In our opinion, and to the best of our information and according to explanations given to us, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give a true and far view in conformity with the accounting principles generally accepted in India;

i. in the case of the Balance Sheet, of the state of the affairs of the company as at 31st March, 2013:

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

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

(Referred to in paragraph 3 of our report of even date)

i) The company has no fixed assets therefore the requirement of reporting on physical verification or maintenance of fixed assets record does not arise.

ii) . To the best of our knowledge and as per the information and explanations given to us, the company has not purchased/sold goods during the year nor there is any opening stock, the requirement of reporting on physical verification of stock or maintenance of inventory records in our opinion does not arise.

iii) . As per information & explanation given to us, the company has taken interest free unsecured loan of Rs. 0.34 lacs from its subsidiary company. There are no party covered in the register maintained U/s 301 of the Companies Act 1956 to which the company has granted advance.

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 for the purchase of inventory, fixed assets and for the sale of goods. During the course of Audit, no major weakness has been noticed in the internal controls.

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

b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 have been made at prices which are reasonable having regard to prevailing market prices at the relevant time where such market price are available.

Vi) To the best of our knowledge, the company has not accepted any deposits covered under section 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the companies (acceptance of deposits) Rules, 1975. To the best of our knowledge and according to the information and explanations given to us, no order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal.

Vii) To the best of our knowledge and explanations given to us, the Company has an internal audit system commensurate with its size and the nature of its business.

Viii) According to the information & explanations provided by the management, the company is not engaged in production, processing, manufacturing or mining activities. Hence, the provisions of section 209(I)(d) do not apply to the company. Hence, in our opinion, no comment on maintenance of cost records under Section 209 (I) (d) is required.

IX) To the best of our knowledge and according to the information and explanations given to us, the Company is regular in depositing undisputed statutory dues including Provident Fund, Investors Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and any other statutory dues (except listing fees of Rs.2,32,373/-), where applicable, with the appropriate authorities. There were no arrears of outstanding statutory dues as at the last day of financial year for a period of more than six months from the date they become payable except listing fees of Rs 2,32,373/-.

To the best of our knowledge and according to information and explanation given to us there were no disputed dues of sales tax, income tax, custom duty, wealth tax, service tax, excise duty and cess.

X) The company was incorporated on 7th February 1996. Since the company is registered for more than five years and is not having any accumulated losses more then 50%, we are of the opinion that no comment is required under clause (x) of para 4 of order regarding the erosion of 50% or more of net worth and cash losses in the current and immediately preceding financial years.

Xi) In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues to a financial institution, bank or debenture holders.

Xii) On the basis of verification of accounts and records maintained by the Company and to the best of our knowledge & belief, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

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' Reports) Order, 2003 are not applicable to the company.

XiV) To the best of our knowledge and according to information given to us, the Company is maintaining proper records for the transactions and contracts of dealing or trading in shares, debentures and other investments. The company is making timely entries in the records.

XV) To the best of our knowledge and according to the information and explanation given to us, the Company has not given any guarantee for loans taken by others from Banks/ Financial Institutions.

Xvi) To the best of our knowledge and according to the information and explanations given to us, the company has not taken any term loan during the year.

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

Xviii) According to the information & explanation given to us, the Company has not made any preferential allotment of shares during the year to parties and companies covered in the Register maintained under section 301 of the Companies Act, 1956.

XiX) In our opinion and according to the information & explanations given to us the the Company has not issued any secured debentures during the period covered by our report. Accordingly, the provisions of clause (xix) of the Companies (Auditor's Report) order, 2003 are not applicable to the company.

XX) According to the information & explanations given to us, the Company has not raised any money by Public Issue during the year.

XXi) Based upon the audit procedure performed and information and explanation given by the management we report that no fraud on or by the Company has been noticed or reported during the year.

For FARM & SMRN Chartered Accountants FRNO:- 507094C

RISHI KUMAR Partner

Place : New Delhi. Dated: 02.09.2013

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Mar 31, 2012

1. We have audited the attached Balance Sheet of FMec INTERNATIONAL FINANCIAL SERVICES LIMITED as at 31st March, 2013, and also the Profit & Loss Account and the cash flow statement of the Company for the year ended on that date annexed thereto. These -financial statements are the responsibility of the Company management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the auditing standards generally accepted in India. Those 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 the management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditor's Report) Order, 2003, issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure, a statement on the matters specified in paragraph 4 and 5 of the said order.

4. Further to our comments I the Annexure referred to in the paragraph 3 above, we report that:-

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

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

c. The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account;

d. In our opinion, the Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956;

e. On the basis of written representations received from the directors as on 31st March, 2013 and taken on record by the Board of Directors, we report that 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 Companies Act, 1956;

f. In our opinion, and to the best of our information and according to explanations given to us, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give a true and far view in conformity with the accounting principles generally accepted in India;

i. in the case of the Balance Sheet, of the state of the affairs of the company as at 31st March, 2013:

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

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

(Referred to in paragraph 3 of our report of even date)

i) The company has no fixed assets therefore the requirement of reporting on physical verification or maintenance of fixed assets record does not arise.

ii) . To the best of our knowledge and as per the information and explanations given to us, the company has not purchased/sold goods during the year nor there is any opening stock, the requirement of reporting on physical verification of stock or maintenance of inventory records in our opinion does not arise.

iii) . As per information & explanation given to us, the company has taken interest free unsecured loan of Rs. 0.34 lacs from its subsidiary company. There are no party covered in the register maintained U/s 301 of the Companies Act 1956 to which the company has granted advance.

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 for the purchase of inventory, fixed assets and for the sale of goods. During the course of Audit, no major weakness has been noticed in the internal controls.

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

b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements entered in the register maintained under section 301 of the Companies Act, 1956 have been made at prices which are reasonable having regard to prevailing market prices at the relevant time where such market price are available.

Vi) To the best of our knowledge, the company has not accepted any deposits covered under section 58A and 58AA or any other relevant provisions of the Companies Act, 1956 and the companies (acceptance of deposits) Rules, 1975. To the best of our knowledge and according to the information and explanations given to us, no order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or any other Tribunal.

Vii) To the best of our knowledge and explanations given to us, the Company has an internal audit system commensurate with its size and the nature of its business.

Viii) According to the information & explanations provided by the management, the company is not engaged in production, processing, manufacturing or mining activities. Hence, the provisions of section 209(I)(d) do not apply to the company. Hence, in our opinion, no comment on maintenance of cost records under Section 209 (I) (d) is required.

IX) To the best of our knowledge and according to the information and explanations given to us, the Company is regular in depositing undisputed statutory dues including Provident Fund, Investors Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and any other statutory dues (except listing fees of Rs.2,32,373/-), where applicable, with the appropriate authorities. There were no arrears of outstanding statutory dues as at the last day of financial year for a period of more than six months from the date they become payable except listing fees of Rs 2,32,373/-.

To the best of our knowledge and according to information and explanation given to us there were no disputed dues of sales tax, income tax, custom duty, wealth tax, service tax, excise duty and cess.

X) The company was incorporated on 7th February 1996. Since the company is registered for more than five years and is not having any accumulated losses more then 50%, we are of the opinion that no comment is required under clause (x) of para 4 of order regarding the erosion of 50% or more of net worth and cash losses in the current and immediately preceding financial years.

Xi) In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues to a financial institution, bank or debenture holders.

Xii) On the basis of verification of accounts and records maintained by the Company and to the best of our knowledge & belief, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

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' Reports) Order, 2003 are not applicable to the company.

XiV) To the best of our knowledge and according to information given to us, the Company is maintaining proper records for the transactions and contracts of dealing or trading in shares, debentures and other investments. The company is making timely entries in the records.

XV) To the best of our knowledge and according to the information and explanation given to us, the Company has not given any guarantee for loans taken by others from Banks/ Financial Institutions.

Xvi) To the best of our knowledge and according to the information and explanations given to us, the company has not taken any term loan during the year.

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

Xviii) According to the information & explanation given to us, the Company has not made any preferential allotment of shares during the year to parties and companies covered in the Register maintained under section 301 of the Companies Act, 1956.

XiX) In our opinion and according to the information & explanations given to us the the Company has not issued any secured debentures during the period covered by our report. Accordingly, the provisions of clause (xix) of the Companies (Auditor's Report) order, 2003 are not applicable to the company.

XX) According to the information & explanations given to us, the Company has not raised any money by Public Issue during the year.

XXi) Based upon the audit procedure performed and information and explanation given by the management we report that no fraud on or by the Company has been noticed or reported during the year.

For FARM & SMRN Chartered Accountants FRNO:- 507094C

Sd/- RISHI KUMAR Partner

Place : New Delhi. Dated: 03.09.2012