Auditor Report of Shiva Suitings Ltd.

Mar 31, 2024

We have audited the accompanying standalone Ind AS financial statements of Shiva Suitings
Limited ("the Company"), which comprise the Balance Sheet as at 31 March 2024, and the
Statement of Profit and Loss (including other comprehensive income), the statement of Cash
Flows and the statement of changes in equity for the year then ended, and notes to the
financial statement including a summary of significant accounting policies and other
explanatory information (herein after referred to as "standalone Ind AS financial
statements")

In our opinion and to the best of our information and according to the explanation given to
us, the aforesaid Ind AS standalone 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 including the Ind AS, of the state of affairs of the
Company as at 31 March 2024, and its Profits including comprehensive income, its cash flows
and the change in equity for the year ended on that.

2. 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.

3. Key Audit Matters

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

4. Other Information

The Company''s management and Board of Directors are responsible for the other information.
The other information comprises the information included in the Company''s annual report, but
does not include the standalone financial statements and our auditors'' report thereon.

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

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

5. Management''s Responsibility for the Standalone Ind AS 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 standalone Ind AS
financial statements, that give a true and fair view of the financial position, financial
performance including other comprehensive income, cash flows and changes in equity of the
Company in accordance with the accounting principles generally accepted in India, including
the Indian Accounting Standards (Ind As) specified under Section 133 of the Act, read with
relevant rules issued thereunder. This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions of the Act; for safeguarding the assets of the
Company; for preventing and detecting frauds and other irregularities; selection and application
of appropriate implementation and maintenance of accounting policies; making judgments and
estimates that are reasonable and prudent; and design, implementation and maintenance of
adequate internal financial controls, that were operating effectively for ensuring the accuracy
and completeness of the accounting records, relevant to the preparation and presentation of
the standalone Ind AS 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.

6. Auditors Responsibility for the Audit of the Standalone Ind AS Financial Statements

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

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

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

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

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

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

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

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

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

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

7. Report on Other Legal and Regulatory Requirements

A. As required by Section143(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 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 it appears from our examination of those books.

c. The Standalone IND AS Balance sheet, the standalone statement of profit and loss
including other comprehensive income, the statement of cash flow and the statement
of changes in equity dealt with by this report are in agreement with the books of
account.

d. In our opinion, the aforesaid standalone Ind AS financial statements comply with the
Indian Accounting Standards (Ind As) specified under Section 133 of the Act, read with
relevant rule issued thereunder.

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

f. We have also audited the internal financial controls over financial reporting
(IFCoFR) of the Company as of 31 March 2024 in conjunction with our audit of the
standalone Ind AS financial statements of the Company for the year ended on that
date and our report dated 16/05/2024 as per Annexure A expressed.

B. With respect to the matter to be included in the Auditors'' Report under Section 197(16) of the
Act: In our opinion and according to the information and explanations given to us, no
remuneration is paid by the Company to its directors during the current year under Section
197 of the Act.

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

i. The Company does not have any pending litigations which may impact its standalone Ind
AS financial statements;

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

iii. The company has not deposited /transferred following amount which were required to be
transferred to the Investor Education and Protection Fund, the details are as under :

Nature of the Transactions Period Amount (in Rs.)

Debenture Interest F.Y. 2006-07 8,486/-

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

Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries;

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

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

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

vi. Based on our examination, which included test checks, the Company has used accounting
softwares 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 softwares. 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.

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

For V.K. Beswal & Associates

Chartered Accountants

Firm Registration No.: 101083W

CA Kunal Beswal

Partner

Membership No. 131054

UDIN: 24131054BKCCNH4063

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Mar 31, 2015

We have audited the accompanying standalone financial statements of SHIVA SUITINGS LIMITED ("the Company"), which comprises the Balance Sheet as at March 31, 2015, 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 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 standalone financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with accounting principles generally accepted in India, including the Accounting Standards 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 of the assets of the company 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 the 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 misstatements, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone 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 issued by the Institute of Chartered Accountants of India, as 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 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 standalone financial statements that give a 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 system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of 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 standalone 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:

a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2015;

b) In the case of statement of Profit and Loss, of the Profit for the year ended on that date; and

c) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2015 ("the Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the Annexure 1 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 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 it 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 aforesaid standalone financial statements comply with the Accounting Standards specified undersection 133 of the Act, read with rule 7 of the Companies (Accounts) rules,2014;

e) On the basis of written representations received from the directors as on March 31, 2015, and 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 does not have any pending litigations which have any impact on its financial position in its financial statements.

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

iii) The Company has not transferred following amounts which were required to be transferred to the Investor Education and Protection Fund :

Nature of Amount Period Rs.

Debenture Interest FY 2006-07 7,571/-

Annexure to the Auditor's Report even date (Referred to in paragraph 1 thereof)

1. According to the information and explanations received by us from the management, we are of the opinion that the question of commenting on maintenance of proper records of fixed assets, physical verification and any substantial sale does not arise since the company had no fixed assets as on 31st March 2015 or at any time during the financial year ended 31st March 2015.

2. In respect of Inventories:

a. As explained to us physical verification of inventories has been conducted during the year by the management at reasonable intervals.

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

c. In our opinion and according to the information and explanation given to us, the Company is maintaining proper records of its inventories and no material discrepancies were noticed on physical verification.

3. The company has not granted any loans, secured or unsecured to the companies, firms or other parties covered in the register maintained under Section 189 of the companies Act, 2013.

4. In our opinion and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase of inventory and sale of goods. Further, on the basis of our examination of the books and records of the company, carried out in accordance with the auditing standards generally accepted in India and according to the information and explanations given to us, we have neither come across nor have we been informed of any continuing failure to correct weaknesses in the aforesaid internal control system.

5. According to the information and explanations given to us, the Company has not accepted any deposits from public.

6. As informed to us, the Central Government has not prescribed the maintenance of Cost records under section 148 of the Companies Act, 2013 for any of the activities of the company.

7. (a) According to the records of the company, the Company is generally regular in depositing with appropriate authorities undisputed statutory dues, including Provident Fund, Employee's State Insurance, Income Tax, Sales Tax, Wealth Tax, Custom Duty, Duty of Excise, Value Added Tax, Cess and other statutory dues applicable to it.

(b) According to the information and explanations given, no undisputed amounts payable in respect of Income-Tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty/Cess were outstanding as at 31 -03-2015 for a period of more than six months from the date they became payable.

(c) According to the records of the company there are no dues of Income-Tax, sales tax, wealth tax, service tax, customs duty, excise duty/cess which have not been deposited on account of any dispute.

(d) The Company has not transferred following amounts, which were required to be transferred to the Investor Education and Protection Fund:

Nature of Amount Period Rs.

Debenture Interest FY 2006-07 7,571/-

8. The accumulated losses of the company have not exceeded fifty percent of its net worth as at 31.03.2015. The company has not incurred any cash loss during the current financial year or in the preceding year covered by our audit.

9. As per the information and explanations given to us, the company has not obtained any loan from any financial institution or bank and issued debentures.

10. The company has not given any corporate guarantees for loans taken by others from banks and financial Institutions.

11. According to the records of the Company, the Company has not obtained any term loans during the year. Hence, comments under the clause are not called for.

12. Based upon the audit procedure performed and information and explanations given by the management, we report that no fraud on or by the company has been noticed or reported during the course of our audit.

For V.K. Beswal & Associates Chartered Accountants Firm Registration No.101083W

CA K. V. Beswal Partner Membership No.131054

Place : MUMBAI Date : May 29, 2015

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Mar 31, 2014

We have audited the accompanying financial statements of SHIVA SUITINGS LIMITED, 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 standard referred to in sub-section (3c) of section 211 of the Companies Act, 1956 ("the act") read with the general circular 15/2014 dated 13th September 2014 of the ministry of corporate affairs in respect of section 133 of the companies act, 2014. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor''s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those 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;

B) In the case of the Profit and Loss Account, of the PROFIT for the year ended on that date; and

C) In the case of the Cash Flow Statement, of the Cash Flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

A) 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.

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

i. 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;

ii. 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;

iii. 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;

iv. 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 15/2014 dated 13th September 2014 of the ministry of corporate affairs in respect of section 133 of the Companies Act, 2014;

v. 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.

1) According to the information and explanations received by us from the management, we are of the opinion that the question of commenting on maintenance of proper records of fixed assets, physical verification and any substantial sale does not arise since the company had no fixed assets as on 31st march 2014 or at any time during the financial year ended 31st March 2014.

2) In respect of Inventories:

a) As explained to us physical verification of inventories has been conducted during the year by the management at reasonable intervals.

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

c) In our opinion and according to the information and explanation given to us, the Company is maintaining proper records of its inventories and no material discrepancies were noticed on physical verification.

3) The company has neither taken nor granted any loans or advances from/to parties covered 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 is adequate internal control system commensurate with the size of the Company and the nature of its business. Further, on the basis of our examination of the books and records of the company, carried out in accordance with the auditing standards generally accepted in India and according to the information and explanations given to us, we have neither come across nor have we been informed of any continuing failure to correct weaknesses in the aforesaid internal control system.

5) Based on the audit procedures applied by us and the information and explanations provided by the management, we are of the opinion that there were no transactions during the year that need to be entered in the register maintained u/s.301 of the Companies Act, 1956.

6) In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from public during the year. Therefore, the provision of Clause (vi) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

7) In our opinion the Company has an internal audit system commensurate with its size and nature of its business.

8) According to the information and explanations provided by the management, the Company is not engaged in production, processing, manufacturing or mining activities. Hence, the provisions of section 209(1)(d) of the Companies Act, 1956 do not apply to the Company. Hence, in our opinion, no comment on maintenance of cost records under section 209(1)(d) is required.

9) According to the records of the company, the Company is generally regular in depositing with appropriate authorities undisputed statutory dues, including provident fund, employee''s state insurance, Income Tax, Sales Tax, wealth tax, custom duty, excise duty, service tax, Cess and other statutory dues applicable to it.

10) The accumulated losses of the company have exceeded fifty percent of its net worth as at 31.03.2014. The company has not incurred any cash loss during the current financial year or in the preceding year covered by our audit.

11) According to records of the company, the company has not borrowed any sum from financial institutions or banks and in respect of debentures the company neither has any debentures outstanding as on 31.03.2014 nor it has issued any debentures during the year under audit, hence comments with regards to any default under the said clause are not applicable.

12) According to the information and explanation given to us the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures or other securities.

13) In our opinion, and to the best of our information and according to the explanations provided by the management, we are of the opinion that the company is neither a Chit Fund nor a nidhi /mutual benefit society. Hence, in our opinion, the requirements of para 4 (xiii) of the Order do not apply to the company.

14) As per records of the company and information and explanations given to us by the management, company is not dealing or trading in shares, securities, and debentures and other investments.

15) According to the records of the company and the information and explanations provided by the management, the company has not given guarantees for loans taken by others from banks or financial institutions.

16) According to the records of the Company, the Company has not obtained any term loans during the year. Hence, comments under the clause are not called for.

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 no funds raised on short-term basis have been used for long-term investment by the company.

18) According to the records of the Company and the information and explanations provided by the management, the Company has not made any preferential allotment of shares to parties and companies covered in the register maintained u/s.301 of the Companies Act, 1956.

19) No debentures have been issued by the Company during the year covered by our audit report and hence, the question of creating securities in respect thereof does not arise.

20) The Company has not raised any money by public issue during the year covered by our audit report.

21) Based upon the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit.

For V.K. BESWAL & ASSOCIATES CHARTERED ACCOUNTANTS FIRM REG.NO.: 101083W

CAKV BESWAL PARTNER Membership Number: 131054 PLACE : Mumbai DATED : May 30, 2014

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Mar 31, 2010

We have audited the attached Balance Sheet of SHIVA SUITINGS LIMITED, as at 31st March 2010 and also the Profit and Loss Account and cash flow statement 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 disclosure in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

1. As required by the Companies (Auditors Report) Order, 2003 (as amended)issued by the Central Government in terms of Section 227 (4A) of the Companies Act, 1956, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the Order.

2. 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 were necessary for the purpose of our audit.

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

c) The Balance Sheet, Profit & Loss Account & Cash Flow Statement referred to in this report are in agreement with the books of account.

d) In our opinion and to the best of our information and according to the explanations given to us, the Profit & Loss Account, Balance Sheet and Cash Flow Statement are prepared in accordance with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956 subject to clause II (2) of schedule "L".

e) On the basis of written representations received from directors as on 31.03.2010 and taken on record by the Board of Directors, we report that none of the Directors are disqualified as on 31.03.2010 from being appointed as a Director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

f) Attention is also invited to;

The accounts of the company have been prepared on the basis of that it is a going concern, in spite of the accumulated losses of the company has eroded its net worth.

a) in so far as it relates to the Balance Sheet, of the state of affairs of the Company as at 31st March, 2010,

b) in so far as, it relates to the Profit & Loss Account of the Profit of the company for the year ended on that date, and

c) in the case of Cash flow statement for the year ended on that date;

ANNEXURE TO THE AUDITORS REPORT OF EVEN DATE (Referred to in paragraph 1 thereof)

1. In respect of Fixed Assets:

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

b) The fixed assets have been physically verified by the management at reasonable intervals during the year. We are informed that no material discrepancies were noticed by the management on such verification.

c) Based on our scrutiny of the records of the company and the information & explanation received by us, we report that there was no sale of fixed assets during the year.

2. In respect of Inventories:

a) As explained to us physical verification of inventories has been conducted during the year by the management at reasonable intervals.

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

c) In our_opinion and according to the information and explanation given to us, the Company is maintaining proper records of its inventories and no material discrepancies were noticed on physical verification.

3. The company has neither taken nor granted any loans or advances from/to parties covered 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 for the purchase of inventory and for the sale of goods.

5. Based on the audit procedures applied by us and the information and explanations provided by the management, we are of the opinion that there were no transactions during the year that need to be entered in the register maintained u/s.301 of the Companies Act, 1956.

6. In our opinion and according to the information and explanations given to us the company has not accepted any deposits from public within the meaning of section 58A, 58AA or any other provisions of the Companies Act, 1956.

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

8. As informed to us, the Central Government has not prescribed the maintenance of Cost records under section 209(1 )(d) of the Companies Act, 1956 for any of the products of the company.

9. The Company is generally regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, excise duty, Service Tax Custom Duty, Cess and other statutory dues applicable to it which were outstanding, as at 31/3/2010 for a period of more than six months from the date they became payable.

According to the information & explanation given to us, dues relating to Octroi have not been deposited on account of the dispute with the related authority here been reflected in the table given below:-

Forum where disputed in Particulars Amount (Rs.) Pending

The Addl. Assessor & Collector Octroi 15,57,488 (Octroi) Birhanmumbai Mahanagarpalika, Mumbai

10. The accumulated losses of the Company have exceeded 50% of its net worth as at 31st March 2010. The Company has not incurred any cash loss during the year, however company has incurred a cash loss of Rs. 19.83 lac in the immediately preceding financial year.

11. The Company has neither borrowed from financial institutions or banks or issued debentures during the year nor any opening outstanding liability is there, hence in our opinion, the question of reporting on defaults in repayment of dues to financial institutions or banks or debenture holders does not arise.

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

13. In our opinion, and to the best of our information and according to the explanations provided by the management, we are of the opinion that the company is neither a Chit Fund nor a nidhi/mutual benefit society. Hence in our opinion, the requirements para 4 (xiii) of the Order do not apply to the company.

14. As per records of the company and information and explanations given to us by the management, company is not dealing or trading in shares, securities, and debentures and other investments. Hence in our opinion, the requirements of para 4 (xiv) of the order do not apply to the company.

15. According to the information and explanations given to us the Company has not given any Guarantee for loan taken by others from Banks or Financial Institutions.

16. According to the records of the company, the company has not obtained any term loans during the year. Hence, comments under the clause are not called for.

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 no funds raised on short-term basis have been used for long-term investment by the company.

18. According to the records of the company and the information and explanations provided by the management, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained u/s.301 of the Act.

19. No debentures have been issued by the Company during the year and hence, the question of creating securities or charge in respect thereof does not arise.

20. The Company has not raised any money by way of public issue during the period covered by our audit report.

21. Based upon the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit.

For.V.K. BESWAL & ASSOCIATES,

CHARTERED ACCOUNTANTS

FIRMREGNNO101083W

[CA K. V. BESWAL]

[PARTNER]

M. NO.: 131054

PLACE : Mumbai

DATE: August 02, 2010

---

Mar 31, 2009

We have audited the attached Balance Sheet of SHIVA SUITINGS LIMITED, as at 31st March, 2009 and also the Profit and Loss Account and cash flow statement 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 disclosure in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

1. As required by the Companies (Auditors Report) Order, 2003 (as amended)issued by the Central Government in terms of Section 227 (4A) of the Companies Act, 1956, we annex heretoa statement on the matters specified in paragraphs 4 and 5 of the Order.

2. 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 were necessary for the purpose of our audit.

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

c) The Balance Sheet, Profit & Loss Account & Cash Flow Statement referred to in this report are in agreement with the books of account.

d) In our opinion and to the best of our information and according to the explanations given to us, the Profit & Loss Account, Balance Sheet and Cash Flow Statement are prepared in accordance with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956 subject to clause II (2) of schedule "L".

e) On the basis of written representations received from directors as on 31.03.2009 and taken on record by the Board of Directors, we report that none of the Directors are disqualified as on 31.03.2009 from being appointed as a Director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

f) Attention is also invited to;

The accounts of the company have been prepared on the basis of that it is a going concern, in spite the accumulated losses of the company has eroded its net worth.

a) in so far as it relates to the Balance Sheet, of the state of affairs of the Company as at 31 st March, 2009,

b) in so far as it relates to the Profit & Loss Account of the Loss of the company for the year ended on that date, and

c) in the case of Cash flow statement for the year ended on that date;

1. In respect of Fixed Assets:

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

b) The fixed assets have been physically verified by the management at reasonable intervals during the year. We are informed that no material discrepancies were noticed by the management on such verification.

c) Based on our scrutiny of the records of the company and the information & explanation received by us, we report that there were substantial sales of fixed assets during the year but the fixed assets disposed does not affect the going concern of the company.

2. In respect of Inventories:

a) As explained to us physical verification of inventories has been conducted during the year by the management at reasonable intervals.

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

c) In our opinion and according to the information and explanation given to us, the Company is maintaining proper records of its inventories and no material discrepancies were noticed on physical verification.

3. The company has neither taken nor granted any loans or advances from/to parties covered 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 for the purchase of inventory and for the sale of goods.

5. Based on the audit procedures applied by us and the information and explanations provided by the management, we are of the opinion that there were no transactions during the year that need to be entered in the register maintained u/s.301 of the Companies Act, 1956.

6. In our opinion and according to the information and explanations given to us the company has not accepted any deposits from public within the meaning of section 58A, 58AA or any other provisions of the Companies Act, 1956.

7. In our opinion the Company has an internal audit system commensurate with its size and nature of its business.

8. As informed to us, the Central Government has not prescribed the maintenance of Cost records under section 209(1 )(d) of the Companies Act, 1956 for any of the products of the company.

9. The Company is generally regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, excise duty, Service Tax Custom Duty, Cess and other statutory dues applicable to it except Rs.71,526 in respect of Investor Education Protection Fund which were outstanding, as at 31/3/2009 for a period of more than six months from the date they became payable.

According to the information & explanation given to us, dues relating to octroi have not been deposited on account of the dispute with the related authority here been reflected in the table given below:-

Particulars Amount (Rs.) Forum where disputed in Pending Octroi 15,57,488 The Addl. Assessor & Collector (Octroi) Birhanmumbai Mahanagarpalika, Mumbai

10. The accumulated losses of the Company have exceeded 50% of its net worth as at31st March, 2009. The Company has incurred a cash loss of Rs. 19.83 Lac during the year and Rs. 18.25 lac in the immediately preceding financial year.

11. The Company has not defaulted in repayment of dues to. Debenture Holders.

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

13. In our opinion, and to the best of our information and according to the explanations provided by the management, we are of the opinion that the company is neither a Chit Fund nor a nidhi/mutual benefit society. Hence in our opinion, the requirements para 4 (xiii) of the Order do not apply to the company.

14. As per records of the company and information and explanations given to us by the management, company is not dealing or trading in shares, securities, and debentures and other investments. Hence in our opinion, the requirements of para 4 (xiv) of the order do not apply to the company.

15. According to the information and explanations given to us the Company has not given any Guarantee for loan taken by others from Banks or Financial Institutions.

16. According to the records of the company, the company has not obtained any term loans during the year. Hence comments under the clause are not called for.

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 no funds raised on short-term basis have been used for long term investment by the company.

18. According to the records of the company and the information and explanations provided by the management, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained u/s.301 of the Act.

19. No debentures have been issued by the Company during the year and hence, the question of creating securities or charge in respect thereof does not arise.

20. The Company has not raised any money by way of public issue during the period covered by our audit report.

21. Based upon the audit procedures performed and information and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit.

For V.K. BESWAL & ASSOCIATES, CHARTERED ACCOUNTANTS

Sd/-

[CA R. P. LADDHA] [PARTNER]

M.NO.:48195

PLACE: Mumbai

DATE : August 10, 2009