Auditor Report of Patidar Buildcon Ltd.

Mar 31, 2024

We have audited the financial statements of Patidar Buildcon Ltd ("the Company"), which comprise the balance sheet
as at 31st March 2024, and the statement of Profit and Loss, the Statement of Changes in Equity and statement of cash
flows for the year then ended, and notes to the financial statements, including a summary of significant accounting
policies and other explanatory information.

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

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the
Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor''s Responsibilities
for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with
the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that
are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules
thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code
of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the
standalone financial statements of the current period. These matters were addressed in the context of our audit of the
standalone financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate
opinion on these matters. We have determined there are no any key audit matters to be communicated in our report.

Information other than the financial statements and auditors'' report thereon

The Company''s board of directors is responsible for the preparation of the other information. The other information
comprises the information included in the Board''s Report including Annexures to Board''s Report 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 Standalone Financial Statements

The Company''s Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act,
2013 ("the Act") with respect to the preparation of these financial statements that give a true and fair view of the
financial position, financial performance, Changes in Equity and cash flows of the Company in accordance with the
accounting principles generally accepted in India, including the accounting Standards specified under section 133 of the
Act. 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.

Those 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
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 control relevant to the audit in order to design audit procedures that

are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, 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
report. However, future events or conditions may cause the Company to cease to continue as a going
concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the

disclosures, and whether the financial statements represent the underlying transactions and events in a
manner that achieves fair presentation.

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

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

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

From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the 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.

We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the
financial statements and we have fulfilled our other ethical responsibilities in accordance with these requirements.

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 Companies Act, 2013, we give in the ''Annexure A'', a
statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

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

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

a) In our opinion, proper books of account as required by law have been kept by the Company so far

as it appears from our examination of those books.

b) The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this

Report are in agreement with the books of account.

c) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified

under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

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

e) 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''.

f) With respect to the matter to be included in the Auditor''s Report under section 197(16), In our opinion and
according to the information and explanations given to us, the remuneration paid by the Company to its
directors during the current year is in accordance with the provisions of section 197 of the Act. The
remuneration paid to any director is not in excess of the limit laid down under section 197 of the Act. The
Ministry of Corporate Affairs has not prescribed other details under section 197(16) which are required to
be commented upon by us.

g) With respect to the other matters to be included in the Auditor''s Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014, in our opinion 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 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.

iv. (a) The management has represented that, to the best of its knowledge and belief, no funds have
been advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the company to or in any other person(s) or entity(ies), including foreign
entities ("Intermediaries"), with the understanding, 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 it''s knowledge and belief, no funds have
been received by the company from any person(s) or entity(ies), including foreign entities ("Funding
Parties"), with the understanding, whether recorded in writing or otherwise, that the company shall,
whether, directly or indirectly, lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries") or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries; and

(c) Based on such 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 mis-statement.

v. No dividend have been declared or paid during the year by the company.

vi. Based on our examination, which included test checks, the Company has used accounting software
for maintaining its books of account for the financial year ended March 31, 2024, which has a

feature of recording audit trail (edit log) facility and the same has operated throughout the year for
all relevant transactions recorded in the software. Further, during the course of our audit we did not
come across any instance of the 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.

FOR, SHAH THACKER AND CO
Chartered Accountants
FRN: 129967W

_SD_

CA. Sudhirkumar Shah

Partner

M. No.119008

UDIN: 24119008BKCODJ8255

Date: 30^th May 2024
Place: Ahmedabad

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Mar 31, 2014

Report on Financial Statements

We have audited the accompanying financial statements of Patidar Buildcon Limited (''the Company''), which comprise the Balance Sheet as at March 31, 2014, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

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 General Circular 15/2013 dated 13th 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.

Auditor''s Responsibility

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, 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 affairs of the Company as at March 31,2014; and

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

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

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor''s Report) Order, 2003 ("the Order"), as amended, 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, Statement of Profit and Loss and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d) in our opinion, the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of section 211 of the Companies Act, 1956 read with General Circular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairs in respect of section 133 of the Companies Act, 2013 and;

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

ANNEXURE to the Auditor''s Report

The Annexure reffered to in in our report to the members of Patidar Buildcon Limited (''the Company'') for the year ended 31st March 2014. We report that:

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

(b) Fixed assets are physically verified by the management during the year and there were no major discrepancies noticed;

(c) In our opinion, there was no substantial disposal of fixed assets during the year, which would affect the going concern of the company;

2 (a) As informed to us, the management has conducted physical verification of inventory during the year. In our opinion, the frequency of verification is reasonable;

(b) In our opinion and according to the information and explanations given to us, the procedures for physical verification of inventory followed by the management is reasonable and adequate in relation to the size of the company and the nature of its business.

(c) In our opinion and on the basis of examinations of inventory records, the company is maintaining proper records of inventory. As informed to us, no material discrepancies were noticed by the management on such physical verification;

3 (a) The company has not granted unsecured loan to parties as covered in the register maintained under section 301 of the Companies Act, 1956. The Maximum amount involved during the year was NIL and outstanding from such parties was NIL.

(b) As the company has not granted unsecured loan to parties as covered in the register maintained under section 301 of the Companies Act, 1956. Thus para 4(3)(b) is not applicable.

(c) The company has not taken any loans, secured or unsecured from companies, firms or parties covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly Paragraph 4(3)e) to 4(3)(g) of the order are not applicable.

4 In our opinion, the Company has reasonable internal control procedure commensurate with the size of the Company and the nature of its business, for the purchase of inventory and fixed assets and for the sale of goods.

5 (a) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements, that needed to be entered into in the register maintained under section 301 of the Companies Act, 1956 have been entered;

(b) According to the information and explanation given to us, in respect of transactions exceeding the value of the five lacks rupees made with such parties during the year, each of these transactions have been made at the price which are reasonable having regard the prevailing market prices at the relevant time,

6 According to the information and explanations given to us, the company has not accepted deposits from the public within the meaning of the provisions of sections 58A and 58AA of the Companies Act, 1956 and the rules framed there under.

7 In our opinion, internal audit system of the company is commensurate with its size and nature of its business.

8 The Company does not required to maintain prescribed cost records under section 209(l)(d) of the Companies Act, 1956.

9 (a) As informed to us, applicable undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employee''s State Insurance, Income-tax, Sales-tax, Wealth Tax, Custom Duty, Excise Duty, cess, Service tax have been regularly deposited by the company with the appropriate authority in all cases during the year. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at 31/03/2013 for a period of more than six months from the date of becoming payable.

10 In our opinion, the accumulated losses at the end of the finnacial year and has not incurred any cash losses during the financial year and in the immediately proceeding financial year covered by our audit.

11 The Company did not have any outstanding dues to any financial institutions, banks or debenture holders during the year

12 In our opinion and as per information & explanation given to us, the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13 In our opinion, the company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore, the provisions of this clause are not applicable to the company.

14 According to the information & explanation given to us, and on the basis of our examination of the books of accounts, proper records have been maintained in respect of the transactions and contracts and timely entries have been made therein in respect of shares, securites, debenture investments dealt with or traded by the company. The shares, securities, debentures and other securities have been held by the company, in its own name.

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

16 As per information given to us, the company did not have any term loans outstanding during the year.

17 The company has not raised any funds on short term basis.

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

19 The company has not created securities by way of issue of debentures. 20 The company has not raised any money through public issue during the year.

21 Based on the audit procedures performed and the information and explanations given to us, we report that no fraud on or by the Company has been noticed or reported during the year, nor have we been informed of such case by the management.

Place: Ahmedabad For, K. C. Parikh & Associates Date :29th May, 2014 (Chartered Accountants) Firm Reg. No. 107550W

CA. Chintan Doshi Partner Membership No 118298

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Mar 31, 2013

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

Management''s Responsibility

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.

Auditor''s Responsibility

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

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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

Opinion

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

a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 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 the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor''s Report) Order, 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, Statement of Profit and Loss and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

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

e) on the basis of written representations received from the directors as on March 31, 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 (a) The Company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets on the basis of available information;

(b) We are informed that fixed assets are physically verified by the management during the year and there were no major discrepancies noticed;

(c) In our opinion, there was no substantial disposal of fixed assets during the year, which would affect the going concern of the company;

2 (a) As informed to us, the management has conducted physical verification of inventory during the year. In our opinion, the frequency of verification is reasonable;

(b) In our opinion and according to the information and explanations given to us, the procedures for physical verification of inventory followed by the management is reasonable and adequate in relation to the size of the company and the nature of its business;

In our opinion and on the basis of examinations of inventory records, the company is maintaining proper records of inventory. As informed to us, no material discrepancies were noticed by the management on such physical verification;

3 (a) The company has not granted unsecured loan to parties as covered in the register maintained under section 301 of the Companies Act, 1956. The Maximum amount involved during the year was '' NIL and outstanding from such parties was '' NIL.

(b) In our opinion, the rate of interest and other terms and conditions, wherever specified, of unsecured loans granted by the company, are not prima facie prejudicial to the interest of the company as explained in the notes to accounts.

The company has taken loans from following parties as listed in the register maintained under section 301 of the Companies Act, 1956. The amount involved during the year, outstanding from such parties are as follows. In our opinion, the rate of interest and other terms and conditions, wherever specified, of unsecured loans taken by the company, are not prima facie prejudicial to the interest of the company.

Name of Parties Amount Involved ('') Yearend Balance

Dhiraj Patel 300000 270000

Ekta Maheshwari 258384 257546

Rajnikant Patel 960000 Nil

(d) According to the information and explanation given to us, there is no specific stipulation as to the repayment of the principal amount and is regular in the payment of interest of such loans if any;

According to the information and explanations given to us, there is no overdue amount in respect of such loans;

4 In our opinion, the Company has reasonable internal control procedure commensurate with the size of the Company and the nature of its business, for the purchase of inventory and fixed assets and for the sale of goods. There is no continuing failure to correct major weaknesses in internal control.

5 In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements, that needed to be entered into in the register maintained under section 301 of the Companies Act, 1956 have been entered;

(b) According to the information and explanation given to us, in respect of transactions exceeding the value of the five lacks rupees made with such parties during the year, each of these transactions have been made at the price which are reasonable having regard the prevailing market prices at the relevant time;

6 According to the information and explanations given to us, the company has not accepted deposits from the public within the meaning of the provisions of sections 58A and 58AA of the Companies Act, 1956 and the rules framed there under.

7 In our opinion, internal audit system of the company is commensurate with its size and nature of its business.

8 The Company does not required to maintain prescribed cost records under section 209(1 )(d) of the Companies Act, 1956.

9 (a) As informed to us, applicable undisputed statutory dues including Provident Fund, Investor

Education and Protection Fund, Employee''s State Insurance, Income-tax, Sales-tax, Wealth Tax, Custom Duty, Excise Duty, cess, Service tax have been regularly deposited by the company with the appropriate authority in all cases during the year. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at 31/03/2013 for a period of more than six months from the date of becoming payable.

10 In our opinion, the accumulated losses at the end of the financial year are not more than fifty percent of its net worth. However the company has not incurred any cash losses during the financial year covered by our audit.

11 According to information & explanations given to us, the company has no defaulted in repayment of dues to financial institution / bank.

12 In our opinion and as per information & explanation given to us, the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13 In our opinion, the company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore, the provisions of this clause are not applicable to the company.

14 According to the information & explanation given to us, and on the basis of our examination of the books of accounts, proper records have been maintained in respect of the transactions and contracts and timely entries have been made therein in respect of shares, securities, debentures and other investments dealt with or traded by the company. The shares, securities, debentures and other securities have been held by the company, in its own name.

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

As per information given to us, the company has not taken any term loans from banks or financial institution.

17 According to the Cash Flow statement and other records examined by us and the information & explanation given to us, on the overall examination of the balance sheet of the company, we report that the company has not used funds raised on long-term basis for short-term investment and vice versa.

18 The company has made preferential allotment of shares to the parties and companies covered in the Register maintained under section 301 of the Companies Act, 1956, based on the valuation of shares by the management, which in our opinion is prima facie not prejudicial to the interest of the company.

<19 The company has not created securities by way of issue of debentures.

20 The company has not raised any money through public issue during the year.

21 Based on the audit procedures performed and the information and explanations given to us, we report that no fraud on or by the Company has been noticed or reported during the year, nor have we been informed of such case by the management.

Ahmadabad For, BPA & Company

September 02, 2013 (Chartered Accountants)

Firm Reg. No. 109685W



CA. Prakash Patel

Partner

Membership No. 30575

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Mar 31, 2012

1. We have audited the attached Balance Sheet of PATIDAR BUILDCON LIMITED as at March 31st 2072 and Profit & loss Account and the Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibilities of the Company's Management. Our responsibility is to express an opinion on these financial statements based on ouraudit.

2. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free of material misstatement. An audit includes examining' on a test basis evidence supporting the amounts and disclosures in the financial statement' An audit also includes assessing the accounting principles used and significant estimates made by management' as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

3. As required by the Companies (Auditors' Report) Order' 2003' issued by the in terms of Section 227 MA) of the Companies Act' 1956' and on the basis of such checks of the books and records of the

Company as considered appropriate and the information and explanation given to us dunng the course of the audit' we annex hereto a statement on matters specified in paragraphs 4 & 5 of the said Order

e. On the basis of written representation received from the Directors' as on March' 2012' and taken on records by the Board of Directors' we report that none of the Directors is disqualified as on 31st March'2012 rrom be.ng appointed as director in terms of clause (g) of sub-section (1) of section 274 of the Act'1956

Annexurereferred to in paraph - of otir repnrt nf pw>n Aattt

1. (i) The Company is maintaining proper records to show full particulars including quantitative details and situation of all fixed assets (it) The Fixed Assets have been physically verified by the anagement duringmaterial discrepancies were identified on such verification (m)There was no substantial disposal of fixed assets during the yea. and it does not impact going concern concept of the company.

2. (0 As explained to us' inventory has been physically verified by the management during the year at reasonable intervals' in our opinion' the frequency of such verification is reasonable having regards to the nature of business and particular circumstances. (n) As per the information given to us' the procedures of physical verification of inventory followed by the management are' in our opinion' reasonable and adequate in relation to the size of the Company and the nature of its business.

(iu)The Company is maintaining proper records oi inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material.

3. The Company has not granted any loan secured or unsecured' to companies' firms or other parties' however company has taken interest free unsecured loan from the following persons who are listed in the Register maintained under Section 301 of the Company Act' 1956:

Name of Parties Maximum Amount Taken Closing Balance (Rs.) Duringthe Year (Rs.)

Dhirajbhai Ramjibhai Patel 5'64'642 14'642

Rajnikant Ramjibhai Patel 8'78'000 50'000

Ramjibhai Bhimjibhai Patel 5'98'000 0

Total 64'642

4. In our opinion and according to the information and explanations given to us' there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchase of stores' including components' plant and machinery' equipment and other assets and for the sale of goods & services. During the course of our audit' no material weakness has been noticed in the internal control in respect of the above area'

5. In respect of the transactions entered in the Register maintained under Section 301 of the Companies Act' 1956' to the best of our knowledge and belief and according to the information and explanation given to us' the transactions that needed to be entered into register' have been so entered and the same are made at prices which are reasonable having regards to the prevailing market prices at the relevant time*

6. The Company has not accepted any deposits in terms of provisions of section 58A and 58AA of the Companies Act' 1956. There is no order passed by National Company Law Tribunal or RBI or any Court or any other Tribunal.

7. The Company has no internal audit system.

8. We have broadly reviewed the books of account maintained by the Company pursuant to the rules made by the Central Government for the maintenance of cost records under section 209(1)(d) of The Companies Act' 1956 and accordingly maintenance of Cost Records is not required'

9. (i) Provision of Employees P.F and E.S.I do not apply to the company. The Company is regular in depositing undisputed statutory dues including Income Tax' Wealth Tax' Cess and other material statutory dues with appropriate authorities. According to the information and explanations given to us' no such amount were outstanding' at the end of the year' for a period of more than six month from the date they became payable.

(ii) According to the information and the explanation given to us' there are no dues of sales tax' custom duty' Income tax' Wealth Tax and cess' which have not deposited on account of any dispute.

10. The company have incurred losses of Rs. 14'20'506/- in current financial year due to writing off of al I preoperative expenditure and some prior period items.

It has not incurred cash losses in the current and immediately preceding financial year.

11. Based on our audit procedures and as per the information and explanation given by the management' we are of the opinion that the Company has no outstanding dues in respect to a financial institution or bank.

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

I 13. 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.

14. According to the information and explanation given to us' the company is not dealing or trading in shares' securities' debenture and other securities. Company has made investments in equity shares of the other companies during the year' proper records for the same are maintained

15. 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.

16. According to the information and explanation given to us' the company has not taken any term loan duringthe year.

17. According to the information and explanation given to us and on overall examination of the balance sheet of the company' we report that no funds raised on short term basis have been used for long term investments.

18. The company has not made any preferential allotment of share to parties or companies covered in the register maintained under section 301 of the companies act' 1956.

19. Thecompany did not haveany outstanding debenture duringthe year.

20. The company has not raised any money through a publ ic issue during the year.

21. During thecourse of ourexamination of the books and recordsof the company' carried out m accordance with generally accepted auditing practice in India' and according to the information and explanation given to us' we have neither come across any instances of material fraud on or by the company' noticed or reported during the year' nor have we been informed of such case by management.

For' BPA & Company Chartered Accountants

CA. PRAKASH PATEL

Partner

M. No.: 30575 FRN : 109685W

Place: Ahmedabad

Date: 23rd May 2012

---

Mar 31, 2010

We have audited the attached Balance Sheet of PATIDAR BUILDCON LIMITED as at 31ST March, 2010 and Profit and Loss Account and Cash Flow statement of the Company for the year ended on that date, annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit and report that:- 1. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. 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.

2. As required by the Companies (Auditors Report) Order,2003 ( The Order) issued by the Central Government 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.

3. The Balance Sheet and Statement of Pre-operative Expenses comply with the mandatory Accounting Standards referred to in sub-section (3-C) of section 211 of the Companies Act, 1956.

4. On the basis of written representation received from the directors, as on 31st March, 2010, and taken on record by the Board of Directors, we report that none of the Director is disqualified from being appointed as director in terms of Section 274(1)(g) of the Companies Act, 1956.

5. Further to our comments in the annexure referred to in Paragraph 1 above :

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

b. Proper books of account as required by law have been kept by the Company so far as appears from our examination of such books :

c. The Balance Sheet , the Statement of Pre-operative Expenses and Cash Flow statement referred to in this report are in agreement with the Books of Accounts:

d. In our opinion and to the best of our information and according to the explanations given to us, the said financial statements together with the notes thereon and attached thereto, give the information required by the Companies Act 1956, in the manner so required and give a true and fair view, in conformity with the accounting principles generally accepted in India:

i. In the case of the Balance Sheet of the State of affairs of the Company as at 31st March,2010;

ii. In the case of the Profit and Loss account, of the Profits of the Company for the year ended on that date. And

iii. In the case of the Cash flow Statement, of the Cash Flows of the Company for the year ended on that date.

Annexure to Auditors Report (Referred to in Paragraph 1 of our report of even date)

1. The Company is a service Company. The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. As explained to us the fixed assets have been physically verified by the management during the year in a phased manner, which in our opinion is reasonable, having regard to the size of the company and the nature of its assets. In our opinion, the company has not disposed off a substantial part of the fixed assets during the year and the going concern status of the Company is not affected.

2. The Company has commenced operations during the year and it does not hold inventories. Accordingly, Clause 4(ii) of the Order is not applicable.

3. In our opinion, the company has not taken loans from Companies, firms or other parties listed in the register maintained under Section 301 and 370 (1-B) of the Companies Act 1956 wherever applicable.

4. The Company has not given loans or advances to companies, firms or other parties listed in the register maintained under Sec. 301 and /or companies under the same management as defined under Sec. 370 (1-B) of Companies Act during the period.

5. In our opinion, and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and nature of its business for purchase of fixed assets. The activities of the Company do not involve purchase of inventory and the sale of goods during the year under audit.

6. The Company has not given any loans or advances in the nature of loans except those covered under (4) above.

7. In our opinion, and according to the information and explanations given to us, there are no transactions that need to be entered in the register in pursuance of section 301 of the Act.

8. Directives issued by the Reserve Bank of India and the Provisions of Section 58 A of the Companies Act, 1956 and Rules framed there under are not applicable as the Company has not accepted deposits.

9. In our opinion, the internal audit system of the Company is commensurate with its size and nature of business.

10. According to the information and explanations given to us, the Central government has not prescribed the maintenance of cost records under Section 209(1)(d) of the Companies Act, 1956 in respect of the services carried out by the Company.

11. In our opinion, the Company is not a dealer or trader in Shares, Securities, debentures and other investments.

12. According to the records of the Company and also based on Management representations , undisputed statutory dues payable in respect of income tax, wealth tax, sales tax, customs duty and excise duty wherever applicable have generally been regularly deposited, by the Company during the year with the appropriate authorities in India.

13. According to the records of the Company and as per explanation given to us, the Company is not liable under Provident Fund Act & Employees State Insurance Act.

14. The Company has no accumulated losses as on 31st March, 2010, and pre-operative expenses of Rs. 19,08,699/- .Thus the accumulated losses along with the pre-operative expenses incurred is less than fifty percent of the Share Capital of the company.

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

16. According to the records of the Company, it has neither taken any loans from a financial institution and a bank nor issued any debentures. Accordingly, clause 4(xi) of the order is not applicable.

17. In our opinion, considering the nature of activities carried out by the Company during the year, the provisions of any special statute applicable to a chit fund, nidhi or mutual benefit society are not applicable.

18. The Company has not obtained any term loans. Accordingly, clause 4(xv) of the order is not applicable.

19. According to the information and explanations given to us, the Company has not raised any funds on short term basis.

20. According to the information and explanations given to us, the Company has not given guarantee for loans or other facilities taken by another Company.

21. The Company has not made a preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act.

22. The company has not issued any debentures. Accordingly, clause 4(xix) of the order is not applicable.

23. The Company has not raised any money by public issue during the year. Accordingly, clause 4(xx) of the order is not applicable.

24. As per the information and explanations given to us and on the basis of examination of records, no material fraud on or by the Company was noticed or reported during the year.

For D. S. MAHAMBRE & CO.

Chartered Accountants

Place: Mumbai Sd/-

Date: May 28, 2010. D. S. MAHAMBRE

PROPRIETOR

M. No. 37106