Auditor Report of Genomic Valley Biotech Ltd.

Mar 31, 2024

GENOMIC VALLEY BIOTECH LIMITEDREPORT ON THE AUDIT OF THE FINANCIAL STATEMENTSOpinion

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

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Companies Act, 2013 (“the Act”) in the manner so required and give a true and* fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31 March 2024, the loss including other comprehensive loss, changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the financial statements in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditors’ 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 (“I''CAI”) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules 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 opinion.

The Company’s Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Annual Report, but does not include the financial statements and our auditors’ report thereon. The Annual Report is expected to be made available to us after the date of the auditors’ report.

Our opinion on the financial statements does not cover the other information and we will 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 identified above when it becomes available 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.

Management’s Responsibilities for the Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Act with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance including other comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards specified under Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended. 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 financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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

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

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 auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

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

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

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by 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 auditors’ 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 auditors’ report. However, future events or conditions may cause the Company to cease to continue as a going concern.

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

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

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

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 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 (Auditor’s Report) Order, 2020 (“the Order”) issued by the Central Government of India in terms of sub-section (11) of Section 143 of the Act, we give in the “Annexure A”, a statement on the matters specified in paragraphs 3 and 4 of the Order.

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

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

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

(c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income, Statement of Changes in Equity and the Cash Flow Statement dealt with by this report are in agreement with the books of account and with the returns received from the branches not visited by us.

(d) In our opinion, the aforesaid financial statements comply with the Indian Accounting Standards specified under Section 133 of the Act, read with Companies (Indian Accounting Standards) Rules, 2015, as amended.

(e) 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.

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

(g) With respect to the other matters to be included in the Auditors’ 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 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 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:

i. The Company has no pending litigations which has impact on its financial position;

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

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

iv. (a)The management has represented that, to the best of its knowledge and belief, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person or entity, including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner 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 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.

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

vi. Based on our examination which included test checks, the company has used an accounting software for maintaining its books of account 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 and the audit trail has been preserved by the company as per the statutory requirements for record retention .

For ANDROS & CO.

Chartered Accountants

Firm Regn.No.008976N /I

CA.BHAVUK GARG V ''/W

Partner Place: New Delhi

M. No.502310 ‘ Date:09.05.2024

---

Mar 31, 2014

We have audited the accompanying financial statements of M/s GENOMIC VALLEY BIOTECH LIMITED. having regd office 4 KM Stone, Berri Charra Road, Village Kherka Musalman, Tehsil Bahadurgarh, Distt. Jhajjar, which comprise the Balance Sheet as at March 31, 2014, and the Statement of Profit and Loss for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act") read with the General Circular 15/2013 dated 13 September 2013 of the Ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013.. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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.

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;

and

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

c) in the case of Cash Flow Statement, Cash Flow for the year ended 31.03.2014

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

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 and Statement of Profit and Loss dealt with by this Report are in agreement with the books of account.

d) in our opinion, the Balance Sheet and Statement of Profit and Loss 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.

f) Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company.

1. The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets. According to the information and explanations given to us, the fixed assets have been physically verified by the management during the period under review. In our opinion the frequency of such verification is reasonable and no material discrepancies were noticed on such verification. None of the Fixed Assets have been revalued during the year under review.

2. (a) There is no Inventory in the company.'

(b) Therefore subsequent clauses under this head are not applicable.

3. (a) The company has not taken or granted any loan, secured or unsecured from any company, firm or other parties covered in the register required to be maintained

U/s 301 of the Actin the preceding years.

b) Therefore subsequent clauses under this head are not applicable.

4. There is an adequate internal control procedure commensurate with the size of the company and the nature of its business.

5. There is no transaction exceeding Rs. 5.00 Lacs which required to be entered in pursuance of section 301 of the Act.

6. The company has not accepted any deposit from the public as per dire::tions issued by the Reserve Bank of India and the provisions of section 58A and 58M of the Act and rules framed thereunder.

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

8. The maintenance of cost records has not been prescribed by the Central Government under clause d of Sub-section (1) of section 209 of the Act.

9. The company is regular in deposit of statutory dues, if any, of provident fund/ESI/Sales Tax etc. There is no outstanding statutory dues as at the last day of the financial year for a period of more than six months' from the date they became payable.

10. The accumulated losses at the end of financial year are not more than fifty percent of its net worth and cash losses has been incurred by the company during this financial year and in the immediately preceding such financial year.

11. The company has not defaulted in repayment of dues to a bank or financial institution except NHB Service charges.

12. The company has granted advances but no security by way of pledge of shares, debentures have been taken by the Company.

13. The company is not a chit fund company.

14. The company is not dealing & trading in shares, securities, debentures and other investments.

15. According to the information & explanation given to us the company has not given any guarantee for loan taken by others from bank or financial institutions.

16. No term loan has been taken by the company.

17. The funds raised on short term basis have not been used for long term investment or vice versa.

18. No preferential allotment of shares has been made.

19. The company has not issued debentures and hence requirement of reporting regarding creation of securities in respect of debentures issued does not arise.

20. As the company has not raised any money by public issue. So, there is no disclosure required by the management about the use of money.

21. No fraud on or by the company has been noticed or reported during the year.

For ANDROS & CO. CHARTERED ACCOUNTANTS

DATED: 18.04.2014 PLACE: DELHI (BRIJ BHUSHAN GARG) PARTNER M. No. 084865

---

Mar 31, 2013

We have audited the accompanying financial statements of M/s GENOMIC VALLEY BIOTECH LIMITED. having regd office 4 KM Stone, Berri Charra Road, Village Kherka Musalman, Tehsil Bahadurgarh, Distt. Jhajjar, which comprise the Balance Sheet as at March 31, 2013, and the Statement of Profit and Loss for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act"). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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.

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

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

and

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

c) in the case of Cash Flow Statement, Cash Flow for the year ended 31.03.2013

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

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 and Statement of Profit and Loss dealt with by this Report are in agreement with the books of account.

d) in our opinion, the Balance Sheet and Statement of Profit and Loss 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, 2013, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2013, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

f) Since the Central Government has not issued any notification as to the rate at which the cess is to be paid under section 441A of the Companies Act, 1956 nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the Company.

1. The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets. According to the information and explanations given to us, the fixed assets have been physically verified by the management during the period under review. In our opinion the frequency of such verification is reasonable and no material discrepancies were noticed on such verification. None of the Fixed Assets have been revalued during the year under review.

2. (a) There is no Inventory in the company.'

(b) Therefore subsequent clauses under this head are not applicable.

3. (a) The company has not taken or granted any loan, secured or unsecured from any company, firm or other parties covered in the register required to be maintained U/s 301 of the Actin the preceding years.

b) Therefore subsequent clauses under this head are not applicable.

4. There is an adequate internal control procedure commensurate with the size of the company and the nature of its business.

5. There is no transaction exceeding Rs. 5.00 Lacs which required to be entered in pursuance of section 301 of the Act.

6. The company has not accepted any deposit from the public as per dire::tions issued by the Reserve Bank of India and the provisions of section 58A and 58M of the Act and rules framed thereunder.

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

8. The maintenance of cost records has not been prescribed by the Central Government under clause d of Sub-section (1) of section 209 of the Act.

9. The company is regular in deposit of statutory dues, if any, of provident fund/ESI/Sales Tax etc. There is no outstanding statutory dues as at the last day of the financial year for a period of more than six months' from the date they became payable.

10. The accumulated losses at the end of financial year are not more than fifty percent of its net worth and cash losses has been incurred by the company during this financial year and in the immediately preceding such financial year.

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

12. The company has granted advances but no security by way of pledge of shares, debentures have been taken by the Company.

13. The company is not a chit fund company.

14. The company is not dealing & trading in shares, securities, debentures and other investments.

15. According to the information & explanation given to us the company has not given any guarantee for loan taken by others from bank or financial institutions.

16. No term loan has been taken by the company.

17. The funds raised on short term basis have not been used for long term investment or vice versa.

18. No preferential allotment of shares has been made.

19. The company has not issued debentures and hence requirement of reporting regarding creation of securities in respect of debentures issued does not arise.

20. As the company has not raised any money by public issue. So, there is no disclosure required by the management about the use of money.

21. No fraud on or by the company has been noticed or reported during the year.

For ANDROS & CO. CHARTERED ACCOUNTANTS

DATED: 02.09.2013 PLACE: DELHI (BRIJ BHUSHAN GARG) PARTNER M. No. 084865

---

Mar 31, 2012

We have audited the attached Balance Sheet of M/s Genomic Valley Valley Biotech Limited as at 31st March, 2012. The Company has not carried out any revenue-operation during the year and has, therefore, prepared Net Pre-operative Account instead of Profit and Loss Account for the year ended on the date annexed thereto. These financial statements are the responsibility of the company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conduct 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.

As required by the Companies (Auditor' Report) Order, 2003 issued by the company law board in terms of section 227 (4A) of the companies Act, 1956 we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

Further to our comments, in the Annexure referred to above, we report that:

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

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

c) the Balance Sheet and Net Pre-operative Account referred to in this report are in agreement with the books of account;

d) in our opinion, the Balance Sheet and Net Pre-operative Account dealt with by this report comply with the mandatory accounting standards referred in Sub Section (3C) of Section 211 of the Companies Act. 1956;

e) on the basis of our review of the written representations received from the Directors and taken on record by the board of the directors, we report that none of the directors is disqualified as on 31st March, 2012 from being appointed as a director in terms of clause (g) of subsection (1) of section 274 of the Companies Act, 1956.

f) in our opinion, and to the best of our information and according to the explanations given to us, the said Balance Sheet and other accounts read together with accounting policies and notes to accounts given in Schedule No. I, give the information required by the companies Act, 1956 in the manner so required and give a true and fair view of affairs of the Company as at 31st March, 2012 are in conformity with the accounting principles generally accepted in India.

1. The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets. According to the information and explanations given to us, the fixed assets have been physically verified by the management during the period under review. In our opinion the frequency of such verification is reasonable and no material discrepancies were noticed on such verification. None of the Fixed Assets have been revalued during the year under review.

2. (a) There is no Inventory in the company.'

(b) Therefore subsequent clauses under this head are not applicable.

3. (a) The company has not taken any loan, secured or

unsecured from any company, firm or other parties covered in the register required to be maintained U/s 301 of the Actin the preceding years.

b) Therefore subsequent clauses under this head are not applicable.

4. There is an adequate internal control procedure commensurate with the size of the company and the nature of its business.

5. There is no transaction exceeding Rs. 5.00 Lacs which required to be entered in pursuance of section 301 of the Act.

6. The company has not accepted any deposit from the public as per dire::tions issued by the Reserve Bank of India and the provisions of section 58A and 58M of the Act and rules framed thereunder.

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

8. The maintenance of cost records has not been prescribed by the Central Government under clause d of Sub-section (1) of section 209 of the Act.

9. The company is regular in deposit of statutory dues, if any, of provident fund/ESI/Sales Tax etc. There is no outstanding statutory dues as at the last day of the financial year for a period of more than six months' from the date they became payable.

10. The accumulated losses at the end of financial year are not more than fifty percent of its net worth and cash losses has been incurred by the company during this financial year and in the immediately preceding such financial year.

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

12. The company has granted advances but no security by way of pledge of shares, debentures have been taken by the Company.

13. The company is not a chit fund company.

14. The company is not dealing & trading in shares, securities, debentures and other investments.

15. According to the information & explanation given to us the company has not given any guarantee for loan taken by others from bank or financial institutions.

16. No term loan has been taken by the company.

17. The funds raised on short term basis have not been used for long term investment or vice versa.

18. No preferential allotment of shares has been made.

19. The company has not issued debentures and hence requirement of reporting regarding creation of securities in respect of debentures issued does not arise.

20. As the company has not raised any money by public issue. So, there is no disclosure required by the management about the use of money.

21. No fraud on or by the company has been noticed or reported during the year.

For ANDROS & COMPANY Chartered Accountants

(Brij Bhushan Garg) Partner M.No. 084865

PLACE : NEW DELHI DATED : 1st September, 2012

---

Mar 31, 2011

We have audited the attached Balance Sheet of M/s Genomic Valley Valley Biotech Limited as at 31st March, 2011. The Company has not carried out any revenue-operation during the year and has, therefore, prepared Net Pre-operative Account instead of Profit and Loss Account for the year ended on the date annexed thereto. These financial statements are the responsibility of the company''s management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conduct 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.

As required by the Companies (Auditor'' Report) Order, 2003 issued by the company law board in terms of section 227 (4A) of the companies Act, 1956 we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

Further to our comments, in the Annexure referred to above, we report that:

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

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

c) the Balance Sheet and Net Pre-operative Account referred to in this report are in agreement with the books of account;

d) in our opinion, the Balance Sheet and Net Pre-operative Account dealt with by this report comply with the mandatory accounting standards referred in Sub Section (3C) of Section 211 of the Companies Act. 1956;

e) on the basis of our review of the written representations received from the Directors and taken on record by the board of the directors, we report that none of the directors is disqualified as on 31st March, 2011 from being appointed as a director in terms of clause (g) of subsection (1) of section 274 of the Companies Act, 1956.

f) in our opinion, and to the best of our information and according to the explanations given to us, the said Balance Sheet and other accounts read together with accounting policies and notes to accounts given in Schedule No. I, give the information required by the companies Act, 1956 in the manner so required and give a true and fair view of affairs of the Company as at 31st March, 2011 are in conformity with the accounting principles generally accepted in India.

Encl. : As above

Enclosure to Auditor''s Report pursuant to Companies (Auditor''s Report) Order, 2003 U/s 227 (4A) COMPANIES AUDITOR''S REPORT ORDER - 2003

1. The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets. According to the information and explanations given to us, the fixed assets have been physically verified by the management during the period under review. In our opinion the frequency of such verification is reasonable and no material discrepancies were noticed on such verification. None of the Fixed Assets have been revalued during the year under review.

2. (a) There is no Inventory in the company.''

(b) Therefore subsequent clauses under this head are not applicable.

3. (a) The company has not taken any loan, secured or unsecured from any company, firm or other parties covered in the register required to be maintained U/s 301 of the Actin the preceding years.

b) Therefore subsequent clauses under this head are not applicable.

4. There is an adequate internal control procedure commensurate with the size of the company and the nature of its business.

5. There is no transaction exceeding Rs. 5.00 Lacs which required to be entered in pursuance of section 301 of the Act.

6. The company has not accepted any deposit from the public as per dire::tions issued by the Reserve Bank of India and the provisions of section 58A and 58M of the Act and rules framed thereunder.

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

8. The maintenance of cost records has not been prescribed by the Central Government under clause d of Sub-section (1) of section 209 of the Act.

9. The company is regular in deposit of statutory dues, if any, of provident fund/ESI/Sales Tax etc. There is no outstanding statutory dues as at the last day of the financial year for a period of more than six months'' from the date they became payable.

10. The accumulated losses at the end of financial year are not more than fifty percent of its net worth and cash losses has been incurred by the company during this financial year and in the immediately preceding such financial year.

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

12. The company has granted advances but no security by way of pledge of shares, debentures have been taken by the Company.

13. The company is not a chit fund company.

14. The company is not dealing & trading in shares, securities, debentures and other investments.

15. According to the information & explanation given to us the company has not given any guarantee for loan taken by others from bank or financial institutions.

16. No term loan has been taken by the company.

17. The funds raised on short term basis have not been used for long term investment or vice versa.

18. No preferential allotment of shares has been made.

19. The company has not issued debentures and hence requirement of reporting regarding creation of securities in respect of debentures issued does not arise.

20. As the company has not raised any money by public issue. So, there is no disclosure required by the management about the use of money.

21. No fraud on or by the company has been noticed or reported during the year.

For ANDROS & COMPANY Chartered Accountants

(Brij Bhushan Garg)

Partner M.No. 084865

PLACE : NEW DELHI DATED : 2nd September, 2011

---

Mar 31, 2010

We have audited the attached Balance Sheet of M/s Genomic Valley Valley Biotech Limited as at 31st March, 2010. The Company has not carried out any revenue-operation during the year and has, therefore, prepared Net Pre-operative Account instead of Profit and Loss Account for the year ended on the date annexed thereto. These financial statements are the responsibility of the company''s management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conduct 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.

As required by the Companies (Auditor'' Report) Order, 2003 issued by the company law board in terms of section 227 (4A) of the companies Act, 1956 we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

Further to our comments, in the Annexure referred to above, we report that:

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

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

c) the Balance Sheet and Net Pre-operative Account referred to in this report are in agreement with the books of account;

d) in our opinion, the Balance Sheet and Net Pre-operative Account dealt with by this report comply with the mandatory accounting standards referred in Sub Section (3C) of Section 211 of the Companies Act. 1956;

e) on the basis of our review of the written representations received from the Directors and taken on record by the board of the directors, we report that none of the directors is disqualified as on 31st March, 2010 from being appointed as a director in terms of clause (g) of subsection (1) of section 274 of the Companies Act, 1956.

f) in our opinion, and to the best of our information and according to the explanations given to us, the said Balance Sheet and other accounts read together with accounting policies and notes to accounts given in Schedule No. I, give the information required by the companies Act, 1956 in the manner so required and give a true and fair view of affairs of the Company as at 31st March, 2010 are in conformity with the accounting principles generally accepted in India.

Encl. : As above

Enclosure to Auditor''s Report pursuant to Companies (Auditor''s Report) Order, 2003 U/s 227 (4A) COMPANIES AUDITOR''S REPORT ORDER - 2003

1. The Company has maintained proper records showing full particulars including quantitative details and situation of Fixed Assets. According to the information and explanations given to us, the fixed assets have been physically verified by the management during the period under review. In our opinion the frequency of such verification is reasonable and no material discrepancies were noticed on such verification. None of the Fixed Assets have been revalued during the year under review.

2. (a) There is no Inventory in the company.''

(b) Therefore subsequent clauses under this head are not applicable.

3. (a) The company has not taken any loan, secured or unsecured from any company, firm or other parties covered in the register required to be maintained U/s 301 of the Actin the preceding years.

b) Therefore subsequent clauses under this head are not applicable.

4. There is an adequate internal control procedure commensurate with the size of the company and the nature of its business.

5. There is no transaction exceeding Rs. 5.00 Lacs which required to be entered in pursuance of section 301 of the Act.

6. The company has not accepted any deposit from the public as per dire::tions issued by the Reserve Bank of India and the provisions of section 58A and 58M of the Act and rules framed thereunder.

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

8. The maintenance of cost records has not been prescribed by the Central Government under clause d of Sub-section (1) of section 209 of the Act.

9. The company is regular in deposit of statutory dues, if any, of provident fund/ESI/Sales Tax etc. There is no outstanding statutory dues as at the last day of the financial year for a period of more than six months'' from the date they became payable.

10. The accumulated losses at the end of financial year are not more than fifty percent of its net worth and cash losses has been incurred by the company during this financial year and in the immediately preceding such financial year.

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

12. The company has granted advances but no security by way of pledge of shares, debentures have been taken by the Company.

13. The company is not a chit fund company.

14. The company is not dealing & trading in shares, securities, debentures and other investments.

15. According to the information & explanation given to us the company has not given any guarantee for loan taken by others from bank or financial institutions.

16. No term loan has been taken by the com pany.

17. The funds raised on short term basis have not been used for long term investment or vice versa.

18. No preferential allotment of shares has been made.

19. The company has not issued debentures and hence requirement of reporting regarding creation of securities in respect of debentures issued does not arise.

20. As the company has not raised any money by public issue. So, there is no disclosure required by the management about the use of money.

21. No fraud on or by the company has been noticed or reported during the year.

For SHASHI K. GARG & CO.

Chartered Accountants

(Brij Bhushan Garg)

Partner

M.No. 084865

PLACE : NEW DELHI

DATED : 2nd September, 2010