Auditor Report of Samyak International Ltd.

Mar 31, 2024

We have audited the accompanying standalone Ind AS Financial statements of Samyak International Limited
(''the Company'') which comprise the Balance Sheet as at 31^st March 2024 the Statement of Profit and Loss
(including Other Comprehensive Income) the Cash Flow Statement and the Statement of Changes in Equity for
the year then ended and a summary of the significant accounting policies and other explanatory information. We
have also conducted the audit of the financial statements/ information included in the standalone financial
statements of the company whose financial statements/financial information reflect total assets of Rs. 4860.93
Lacs as at 31^st March 2024 and the total revenue of Rs. 1259.14 lacs for the year ended on that date, as
considered in the standalone financial statements/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 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 31st March, 2024, and other Comprehensive income, changes in equity
and its profit/loss 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 (KAM)

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.

Key Audit	As described in Notes below Company recognizes revenue from trading of Petroleum
Matters	Products and sales/purchase of shares and commodities with customers when it satisfies its
Description	performance obligation and the Counter party Satisfies from the work done, and there is a
	reasonable certainty regarding the realization of Future economic benefits to the company.
	Our audit procedure in include the following substantive procedure:

	• Obtain understanding of different product valuation and assess the same
Principal Audit Procedures	The Procedure performed include the following 1. Obtain an Understanding of the process followed by the company in determination of the estimates and trading business. 2. Tested the Internal control performed over the recording of the revenue, in the Company’s information system at the individual level.
Valuation of Inventories
	Company measures it all the Inventories at Cost or Net Realizable value whichever is lower, as prescribed in Accounting Standard 2 Valuation of Inventories.
Physical Verification of Inventory
	The Company’s management conducts physical verification of inventories during the year at reasonable intervals. Management has carried out other procedures to validate the existence of its inventory as at the Year-end, such as carrying out consumption analysis physical verification after the unlock reconciling the year end balances etc.
Principal Audit Procedures	The Procedures performed included the following 1. Understood the process and tested the management’s internal control to establish the existence of inventory in relation to the process of periodic physical verification carried out by the management, the scope and coverage of periodic verification programme, the results of such verification.

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.

Emphasis of Matter

We draw your attention to note 1.1 estimation of uncertainties relating to the global health pandemic from
COVID-19 of Standalone Financial Statements in which company describe the uncertainties arising from the
COVID-19 pandemic. Our report is not modified in respect of this matter.

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

The Company’s Management & 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 state of affairs, financial position, financial performance 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.

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

Auditor’s Responsibilities for the Audit of the IndAS 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 and Board of Directors.

• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on
the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the
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.

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:

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

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

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

d) 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.

e) 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.

f) With respect to the adequacy of 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 adequacy of the internal financial controls with reference to financial statements
of the Company and the operating effectiveness of such controls, refer to our separate Report in
‘Annexure B’.

h) 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.

i) 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.

j) 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 has doing trade of sale purchase of shares including derivatives future options and
looking to the contract. There is no material forcible losses considered. Being it is normal course
of business of the company.

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, other than as
disclosed in the notes to the accounts, 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, other than as
disclosed in the notes to the accounts, no funds have been received by the company from any
person(s) or entity, 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. The reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 is applicable
from 1 April 2023. Based on our examination which included test checks, except for the instances
mentioned below, the Company has used accounting softwares for maintaining its books of
account, which have a feature of recording audit trail (edit log) facility and the same has operated
throughout the year for all relevant transactions recorded in the respective software:

i. The feature of recording audit trail (edit log) facility was not enabled at the database level to log
any direct data changes for the accounting softwares used for maintaining the books of account
relating to payroll, consolidation process and certain non editable fields/tables of the accounting
software used for maintaining general ledger.

ii. The feature of recording audit trail (edit log) facility was not enabled at the application layer of the
accounting softwares relating to revenue, trade receivables and general ledger for the period 1 April
2023 to 13 November 2023 and relating to property, plant and equipment for the period 1 April
2023 to 14 December 2023. Further, for the periods where audit trail (edit log) facility was enabled
and operated throughout the year for the respective accounting software, we did not come across
any instance of the audit trail feature being tampered with respect to the matter to be included in the
Auditor’s Report under Section 197(16) of the Act:

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) of the Act
which are required to be commented upon by us.

For S.N. KABRA & COMPANY
Chartered Accountants
(Firm Reg. No. 3439C)

CA. Satya Narayan Kabra

Partner

Membership No : 072497

PLACE: Indore
DATE : 30^th May, 2024
UDIN: 24072497BKARMF1372

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Mar 31, 2015

We have audited the accompanying financial statements of SAMYAK INTERNATIONAL LIMITED ('the Company'), which comprise the Balance Sheet as at March 31, 2015, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's 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 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 read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting 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.

Auditors' Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. 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 the disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, 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 on the financial statements.

Opinion

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 March 31, 2015, and its profit and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2015 ("the Order") issued by the Central Government in terms of Section 143(11) of the Act, we give in the Annexure 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.

(c) 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.

(d) 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.

(e) On the basis of the written representations received from the directors as on March 31, 2015 taken on record by the Board of Directors, none of the Directors is disqualified as on March 31, 2015 from being appointed as a director in terms of Section 164(2) of the Act.

(f) 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 has disclosed the impact of pending litigations on its financial position in its financial statements - Refer Note 23(A)(i) to the financial statements. 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 required to be transferred, to the Investor Education and Protection Fund by the Company.

(Referred to in paragraph 1 under 'Report on Other Legal and Regulatory Requirements' section of our report of even date)

(i) In respect of its fixed assets:

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

(b) The Company has a program of verification of fixed assets to cover all the items in a phased manner over a period of three years which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. Pursuant to the programme, the management is in the process of carrying out the physical verification and reconciling the same with the book records. Material discrepancies, if any, between the book records and the physical verification would be dealt with on completion of such reconciliation.

(ii) In respect of its inventories:

(a) As explained to us, the inventories were physically verified during the year by the management at reasonable intervals.

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

(d) In our opinion and according to the information and explanations given to us, the Company has maintained proper records of its inventories and no material discrepancies were noticed on physical verification.

(iii) The Company has not granted loans, secured or unsecured, to companies, firms or other parties covered in the Register maintained under Section 189 of the Companies Act, 2013.

(iv) In our opinion and according to the information and explanations given to us, having regard to the explanations that some of the items purchased are of special nature and suitable alternative sources are not readily available for obtaining comparable quotations, there is an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchases of inventory and fixed assets and the sale of goods and services. During the course of our audit, we have not observed any major weakness in such internal control system.

(v) According to the information and explanations given to us, the Company has not accepted any deposit during the year. In respect of unclaimed deposits, the Company has complied with the provisions of Sections 73 to 76 or any other relevant provisions of the Companies Act, 2013.

(vi) We have broadly reviewed the cost records maintained by the Company pursuant to the Companies (Cost Records and Audit) Rules, 2014, as amended and prescribed by the Central Government under sub-section (1) of the Section 148 of the Companies Act, 2013 and are of the opinion that, prima facie, the prescribed cost records have been maintained. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete.

(vii) According to the information and explanations given to us in respect of statutory dues:

(a) The Company has been generally regular in depositing undisputed statutory dues, including provident fund, employees' state insurance, income tax, sales tax, wealth tax, service tax, custom duty, excise duty, value added tax, cess and other material statutory dues applicable to it with the appropriate authorities.

(b) There were no undisputed amounts payable in respect of provident fund, employees' state insurance, income tax, sales tax, wealth tax, service tax, customs duty, excise duty, value added tax, cess and other material statutory dues in arrears as at March 31, 2015 for a period of more than six months from the date they became payable except.

Name of statute Nature of Dues Amount Financial Year Forum where dispute is pending

MP VAT TAX Entry tax & Penalty 764762/- 2011-12 Commissioner of Apeals

MP VAT TAX CST and Penalty 1077393/- 2011-12 Commissioner of Apeals

MP VAT TAX Entry tax & Penalty 295958/- 2012-13 Commissioner of Apeals

MP VAT TAX VAT and Penalty 2426261/- 2012-13 Commissioner of Apeals

( c) There are no amounts pending to be transferred to Investor Education and Protection Fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules made there under.

(viii) The are no accumulated losses of the Company at the end of the financial year and the Company has not incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year.

(ix) In our opinion and according to the information and explanations given to us, the Company has not defaulted in the repayment of dues to financial institutions and banks. The Company has not issued any debentures.

(x) According to the information and explanations given to us, the Company has not given guarantees for loans taken by others from banks and financial institutions.

(xi) In our opinion and according to the information and explanations given to us, the term loans have been applied by the Company during the year for the purposes for which they were obtained.

(xii) To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no material fraud on the Company has been noticed or reported during the year.

For BHARAT NEEMA & CO.

Chartered Accountants

BHARAT NEEMA

Place : Mumbai Proprietor

Date : 30th May, 2015 (Membership No. 07474810)

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Mar 31, 2014

We have audited the accompanying financial statements of SAMYAK INTERNATIONAL LIMITED alongwith its branch at Mumbai, which comprise the balance sheet as at 31 March 2014, the statement of profit and loss and the 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 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.

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:

(i) in the case of the balance sheet, of the state of affairs of the Company as at 31 March 2014;

(ii) in the case of the statement of profit and loss, of the profit for the year ended on that date; and

(iii) in the case of the cash flow statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. 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.

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

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

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

c. the balance sheet, statement of profit and loss and cash flow statement dealt with by this Report are in agreement with the books of account;

a. in our opinion, the balance sheet, statement of profit and loss and cash flow statement comply with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 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. ; and

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

ANNEXURE TO THE AUDITORS'' REPORT

As required by the companies (Auditors Report) order 2003 issued by the central Government of India in term of section 227 (4A) of the companies Act. 1956 and on the basis of such checks as we considered appropriate. We further report that :- Reffered to in paragraph 3 of our report of even date are:

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

b. As explained to us the Company has a phased program for physical verification of the fixed assets of the company to cover all location. In our opinion, the frequency of verification is reasonable, considering the size of the Company. No serious discrepancies were noticed on such verification as compared with the available records.

c. During the year there is no disposable of substantial part of fixed assets, affecting going concern assumption.

2. a. Inventories have been physically verified by the management during the year. In our opinion, the frequency of verification is reasonable.

b. In our opinion, the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

c. The Company has maintained proper records of inventory. The discrepancies noticed on verification between physical stocks and book stocks were not material and the same have been properly dealt with in the books of account.

3. a. In our opinion and according to the information and explanations given to us, The company has not taken Loans from any party during the year from the parties covered in the register maintained u/s 301 of the companies act and No. of parties was-Nil. The outstanding year end balance of such parties during the year was Rs. NIL and maximum outstanding balance during the year was Rs. NIL.

b. In our opinion and according to the information and explanations given to us, the company has not granted loans to any party covered in the register u/s 301 of the Companies Act, 1956.

c. In our opinion and according to the information and explanations given to us, the rates of interest and other terms & conditions on such loans have been taken/granted from Companies, Firms & other listed parties in the register maintained u/s 301 of the Companies Act, 1956 are not prima facie prejudicial to the interest of the company.

d. The Company has taken unsecured loan from director amounting Rs. 23.29/- Lacs and repay the same.

e. In our opinion and according to the information and explanations given to us. There in no overdue amount of loan taken from Companies. Firms or other parties listed in the register maintained u/s 301 of the companies act, 1956.

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 inventory and fixed assets and for the sale of shares. During the course of our audit, no major weaknesses have been noticed in the internal control system.

5. a. In our opinion and according to the information and explanations given to us, contract and arrangement, transactions that need to be entered as reffered to the Register maintained in pursuance of section 301 of the Companies Act, 1956 have been so entered.

b. i.In our opinion and according to the information and explanations given to us that goods material services aggregating to Rs. 5 Lacs on more were sold / Purchase to Aadi Chem Trade Pvt. Ltd. in pursuance of contracts or agreement entered in the register maintained u/s 301 of the Companies Act, 1956. Amounting to Rs.136.61 Lacs, for Sale and Amounting Rs.54.12Lacs for purchase transaction. Which made at price reasonable having regard to prevailing market price at relevant time.

ii. In our opinion and according to the information and explanations given to us that goods material services aggregating to Rs. 5 Lacs on more were sold / Purchase to Raj Rajendra Parachlor Pvt. Ltd. in pursuance of contracts or agreement entered in the register maintained u/s 301 of the Companies Act, 1956. Amounting to Rs.NIL Lacs, for Sale and Amounting Rs.72.42 Lacs for purchase transaction. Which made at price reasonable having regard to prevailing market price at relevant time.

iii. In our opinion and according to the information and explanations given to us that goods material services aggregating to Rs. 5 Lacs on more were sold / Purchase to Samyak Eco Fuel Pvt. Ltd. in pursuance of contracts or agreement entered in the register maintained u/s 301 of the Companies Act, 1956. Amounting to Rs.NIL Lacs, for Sale and Amounting Rs.191.77 Lacs for purchase transaction. Which made at price reasonable having regard to prevailing market price at relevant time.

iv. In our opinion and according to the information and explanations given to us that goods material services aggregating to Rs. 5 Lacs on more were sold / Purchase to Suhans Capital Market Pvt. Ltd. in pursuance of contracts or agreement entered in the register maintained u/s 301 of the Companies Act, 1956. Amounting Rs.42.66 Lacs for purchase of property transaction. Which made at price reasonable having regard to prevailing market price at relevant time.

6. In our opinion and according to the information and explanations given to us, the company has not accepted deposit from Directors. Shareholders and Directors relatives only as per section 58(A) and 58(AA) of the Companies Act, 1956 and any other relevent provisions of the act. No order has been passed by the Company Law Board or National Co. Law Tribunal or RBI or any Court or Tribunal.

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

8. As explained to us, that the Central Government has not prescribed the maintenance of cost record by the Company under section 209(I)(d) of the Companies Act, 1956.

9. a. According to the records of the Company, the Company has been regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance. Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess and any other statutory dues with the appropriate authorities. According to information and explanation given to us, there are no undisputed arrears of statutory dues which have remained outstanding as at 31st March, 2014 for a period of more that six months from the date they became payable.

b. As at 31st March, 2014 according to the records of the company and the information and explanations given to us, there are no dues on account of Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, and other matters that have not been deposited on account of dispute :

10. The Company have no accumulated losses during the year.

11. According to information and explanations given to us, the Company has enjoying credit facility from HDFC Bank (Vehicle Loan).

12. According the information and explanations 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. 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. In our opinion the company has maintained adequate records of its dealing in Shares, Securities, Debentures and others invetments and properly enteries have been made therein.

15. The Company has not given any guarantee for loans taken by others from bank or financial institutions.

16. During the financial year the company has not obtained any term loans. Hence clause 4(xvi) and (xvii) of the order relating to utilisation of the said loan is not applicable.

17. According to the information and explanations given to us and on an overall examination of the balance sheet of the company. We report that the funds raised on short term basis have not been used for long term investment.

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

19. The Company has not issued any debenture during the year.

20. The Company has not made any public issue during the year.

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

For Bharat Neema & Co. Chartered Accountants

Place: Mumbai CA Bharat Neema Proprietor Date: 28th May 2014 Membership No. 074810

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Mar 31, 2013

We have audited the attached Balance Sheet of SAMYAK International Ltd., Indore as at 31st March 2013 and also the Profit & Loss Account and also the cash flow statment of the Company for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company''s management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining on a test basis, evidence supporting the amounts and disclosure''s in the financial statements. An audit also includes assessing the accounting principal''s used and significant estimates made by manage- ment, as well as evaluating the overall financial statement presentation. We belive that our audit provides a reasonable basis for our opinion.

1. As required by the Companies (Auditors'' Report) order 2003, (the order) issued by the Central Government of India in terms of Section 227(4A) of the Companies Act, 1956, we give in annexure hereto, a statement on the matters specified in paragraph 4 & 5 of the said order.

2. Further to our comments in the annexure referred to in paragraph(3), above we state 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 accounts as required by the law have been kept by the Company so far as appears from our examination of the books.

c. The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with the books of ac- count.

d. In our opinion the Balance Sheet and Profit Account and Cash flow statement dealt with by this report complies with the mandatory Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956.

e. In our opinion and to the best of information and explanations given to us, none of the directors are disqualified as at 31st March 2013, from being appointed as directors in terms of clause (g) of Sub-section (1) of section 274 of the Companies Act, 1956.

f. In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with the Accounting policies and notes thereon give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in confirmative the accounting principals generally accepted in India :

(i) In the case of Balance Sheet of the State of Affairs of the Company as at 31st March 2013, and

(ii) In the case of Profit & Loss Account of the Profit of the Company for the year ended 315I March 2013.

(iii) In the case of cash flow statement of the said statement for year ended on that date.

ANNEXURE TO THE AUDITORS'' REPORT

As required by the companies (Auditors Report) order 2003 issued by the central Government of India in term of section 227 (4A) of the companies Act. 1956 and on the basis of such checks as we considered appropriate. We further report that :-

Reffered to in paragraph 3 of our report of even date are:

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

b. As explained to us the Company has a phased program for physical verification of the fixed assets of the company to coverall location. In our opinion, the frequency of verification is reasonable, considering the size of the Company. No serious discrepancies were noticed on such verification as compared with the available records.

c. During the year there is no disposable of substantial part of fixed assets, affecting going concern assumption.

2. a. Inventories have been physically verified by the management during the year. In our opinion, the frequency of verification is reasonable.

b. In our opinion, the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

c. The Company has maintained proper records of inventory. The discrepancies noticed on verification between physical stocks and book stocks were not material and the same have been properly dealt with in the books of account.

3. a. In our opinion and according to the information and explanations given to us, The company has not taken Loans from any party during the year from the parties covered in the register maintained u/s 301 of the companies act and No. of parties was-Nil. The outstanding year end balance of such parties during the year was Rs. NIL and maximum outstanding balance during the year was Rs. NIL.

b. In our opinion and according to the information and explanations given to us, the company has not granted loans to any party covered in the register u/s 301 of the Companies Act, 1956.

c. In our opinion and according to the information and explanations given to us, the rates of interest and other terms & conditions on such loans have been taken/granted from Companies, Firms & other listed parties in the register maintained u/s 301 of the Companies Act, 1956 are not prima facie prejudicial to the interest of the company.

d. The Company has not taken unsecured loan from directors.

e. In our opinion and according to the information and explanations given to us. There in no overdue amount of loan taken from Companies. Firms or other parties listed in the register maintained u/s 301 of the companies act, 1956.

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 inventory and fixed assets and for the sale of shares. During the course of our audit, no major weaknesses have been noticed in the internal control system.

5. a. In our opinion and according to the information and explanations given to us, contract and arrangement, transactions that need to be entered as reffered to the Register maintained in pursuance of section 301 of the Companies Act, 1956 have been so entered.

b. In our opinion and according to the information and explanations given to us that goods material services aggregating to Rs. 5 Lacs on more were sold to Aadi Chem Trade Pvt. Ltd. in pursuance of contracts or agreement entered in the register maintained u/s 301 of the Companies Act, 1956. Amounting to Rs.371.64 Lacs, for Sale and Amounting Rs.51.06 Lacs for purchase transaction. Which made at price reasonable having regard to prevailing market price at relevant time

6. In our opinion and according to the information and explanations given to us, the company has not accepted deposit from Directors. Shareholders and Directors relatives only as per section 58(A) and 58(AA) of the Companies Act, 1956 and any other relevent provisions of the act. No order has been passed by the Company Law Board or National Co. Law Tribunal or RBI or any Court or Tribunal.

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

8. As explained to us, that the Central Government has not prescribed the maintenance of cost record by the Company under section 209(l)(d) of the Companies Act, 1956.

9. a. According to the records of the Company, the Company has been regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance. Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess and any other statutory dues with the appropriate authorities. According to information and explanation given to us, there are no undisputed arrears of statutory dues which have remained outstanding as at 31st March, 2013 for a period of more that six months from the date they became payable.

b. As at 31 st March, 2013 according to the records of the company and the information and explanations given to us, there are no dues on account of Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, and other matters that have not been deposited on account of dispute:

10. The Company have no accumulated losses during the year.

11. According to information and explanations given to us, the Company has enjoying credit facility from HDFC Bank (Vehicle Loan).

12. According the information and explanations 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. 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. In our opinion the company has maintained adequate records of its dealing in Shares, Securities, Debentures and others invetments and properly enteries have been made therein.

15. The Company has not given any guarantee for loans taken by others from bank or financial institutions.

16. During the financial year the company has not obtained any term loans. Hence clause 4(xvi) and (xvii) of the order relating to utilisation of the said loan is not applicable.

17. According to the information and explanations given to us and on an overall examination of the balance sheet of the company. We report that the funds raised on short term basis have not been used for long term investment.

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

19. The Company has not issued any debenture during the year.

20. The Company has not made any public issue during the year.

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



For Bharat Neema & Co.

Chartered Accountants



Place : Mumbai CA Bharat Neema

Date : 13th May 2013 Proprietor

Membership No. 074810

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Mar 31, 2010

We have audited the attached Balance Sheet of SAMYAK International Ltd., Indore as at 31st March 2010 and also the Profit & Loss Account and also the cash flow statment 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.

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

1. As required by the Companies (Auditors Report) order 2003, (the order) issued by the Central Government of India in terms of Section 227(4A) of the Companies Act, 1956, we give in annexure hereto, a statement on the on the matters specified in paragraph 4 & 5 of the said order.

2. Further to our comments in the annexure referred to in paragraph(3), above we state 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 accounts as required by the law have been kept by the Company so far as appears from our examination of the books.

c. The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with the books o f account.

d. In our opinion the Balance Sheet and Profit Account and Cash flow statement dealt with by this report complies with the mandatory Accounting Standards referred to in Section 211(3C)of the Companies Act, 1956.

e. In our opinion and to the best of information and explanations given to us, none of the directors are disqualified as at 31st March 2010, from being appointed as directors in terms of clause (g) of Sub-section (1) of section 274 of the Companies Act, 1956.

f. In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with the Accounting policies and notes thereon give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view in confirmative the accounting principals generally accepted in India:

(i) In the case of Balance Sheet of the State of Affairs of the Company as at 31st March 2010, and

(ii) In the case of Profits Loss Account of the Profit of the Company for the year ended 31st March 2010.

(iii) In the case of cash flow statement of the said statement for year ended on that date.



ANNEXURE TO THE AUDITORS REPORT

Annexure to the Auditors Report of SAMYAK international Ltd. for the year ended 31st March, 2010. (Referred to in paragraph (3) thereof)

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

b. As explained to us the Company has a phased program for physical verification of the fixed assets of the company to cover all location. In our opinion, the frequency of verification is reasonable, considering the size of the Company. No serious discrepancies were noticed on such verification as compared with the available records.

c. During the year there is no disposable of substantial part of fixed assets, affecting going concern assumption.

2. a. Inventories have been physically verified by the management during the year. In our opinion. the frequency of verification is reasonable.

b. In our opinion, the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

c. The Company has maintained proper records of inventory. The discrepancies noticed on verification between physical stocks and book stocks were not material and the same have been properiy dealt with in the books of account.

3. a. ln our opinion and according to the information a any party during the year from the parties covered in the register maintained u/s 301 of the companies act and No. of parties was-Nil. The outstanding year end balance of such parties during the year was Rs. NIL and maximum outstanding balance during the year was Rs. NIL.

b. In our opinion and according to the information and explanations given to us, the company has not granted loans to any party covered in the register u/s 301 of the Companies Act, 1956.

c. In our opinion and according to the information and explanations given to us, the rates of interest and other terms & conditions on such loans have been taken/granted from Companies, Firms & other listed parties in the register maintained u/s 301 of the Companies Act, 1956 are not prima facie prejudicial to the interest of the company.

d. The Company has taken unsecured loan from directors.

e. In our opinion and according to the information and explanations given to us. There in no overdue amount of loan taken from Companies. Firms or other parties listed in the register maintained u/s 301 of the companies act, 1956.

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 inventory and fixed assets and for the sale of shares. During the course of our audit, no major weaknesses have been noticed in the internal control system.

5. a. In our opinion and according to the infomtation and explanations given to us.contract and arrangement, transactions that need to be entered as reffered to the Register maintained in pursuance of section 301 of the Companies Act, 1956 have been so entered. b In our opinion and according to the information and explanations given to us that goods material services aggregating to Rs 5 Lacs on more were sold to Aadi Chem Trade Pvt. Ltd. in pursuance of contracts register maintained u/s 301 of the Companies Act, 1956. Amounting to Rs. 80.58 Lacs, for Sate and Amounting Rs. NIL Lacs for purchase transaction. 6 In our opinion and according to the information and explanations given to us, the company has not accepted deposit from Directors Shareholders and Directors relatives only as per section 58(A) and 58(AA) of the Companies Act, 1956 and any other relevent provisions of the act. No order has been passed by the Company Law Board or National Co. Law Tribunal or RBI or any Court or Tribunal.

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

8. As explained to us, that the Central Government has not prescribed the maintenance of cost record by the Company under section 209(l)(d) of the Companies Act, 1956.

9. a. According to the records of the Company, the Company has been regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees State Insurance. Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess and any other statutory dues with the appropriate authorities. According to information and explanation given to us, there are no undisputed arrears of statutory dues which have remained outstanding as at 31st March, 2010 for a period of more that six months from the date they became payable.

b. As at 31st March, 2010 according to the records of the company and the information and explanations given to us, the following are the particulars of dues on account of Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, and other matters that have not been deposited on account of dispute:

10. The Company have no accumulated losses. The Company has incurred no cash losses during the financial year covered by our audit and immediate preceding the year of audit.

11. According to information and explanations given to us, the Company has enjoing credit facility from HDFC Bank (Vehicle Loan) and Cash Credit Limit from Bank of Baroda.

12. According the information and explanations 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. 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. In our opinion the company has maintained adequate records of its dealing in Shares, Securities, Debentures and others invetments and finally enteries have been made therein.

15. The Company has not given any guarantee for loans taken by others from bank or financial institutions.

16. During the financial year the company has not obtained any term loans. Hence clause 4(xvi) and (xvii) of the order relating to utilisation of the said loan is not applicable.

17. According to the information and explanations given to us and on an overall examination of the balance sheet of the company. We report that the funds raised on short term basis have not been used for long term investment.

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

19. The Company has not issued any debenture during the year.

20. The Company has not made any public issue during the year.

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



For Bharat Neema & Co.

Chartered Accountants

Place: Indore Bharat Neema

Date: 28th August 2010 Proprietor

Membership No. 074810