Auditor Report of SRM Energy Ltd.

Mar 31, 2024

We have audited the accompanying standalone financial
statements of SRM Energy Limited ("the Company”), which
comprise the standalone balance sheet as at 31 March 2024,
the standalone statement of profit and loss including other
comprehensive income, the standalone statement of changes
in equity and the standalone cash flow statement for the year
then ended, and notes to the standalone financial statements,
including a summary of the significant accounting policies
and other explanatory information (hereinafter referred to as
"standalone financial statements").

In our opinion and to the best of our information and according
to the explanations given to us, except for the possible impact
of the matters described in the ''Basis for Qualified Opinion''
paragraph below, the aforesaid standalone financial
statements give the information required by the Companies
Act, 2013 ("the Act") in the manner so required and give a true
and fair view in conformity with the Indian Accounting
Standards prescribed under section 133 of the Act read with
the Companies (Indian Accounting Standards) Rules 2015, as
amended, ("Ind AS") and other accounting principles generally
accepted in India, of the standalone state of affairs of the
Company as at 31 March 2024, its standalone loss (including
other comprehensive income), standalone changes in equity
and its standalone cash flows for the year ended on that date.

Basis for Qualified Opinion

a. We draw attention to Note 2.3 included in notes to the
standalone financial statements which describes that the
Company has no business operations and is continuously
incurring cash losses. The Company has accumulated losses
and its net worth has been fully eroded. Further, its current
liabilities exceeded its current assets as at the balance
sheet date. In the absence of any supportive audit evidence,
there is material uncertainty of the Company''s continuity
as going concern and its ability to meet its financial and
operational obligations as and when they fall due.

b. We draw attention to Note 4(ii) included in notes to the
standalone financial statements which describes that the
Company has equity investment in wholly owned
subsidiary company amounting to Rs 132.00 lakhs. As the
subsidiary has no business operations and is continuously
incurring cash losses, has accumulated losses and its net
worth has been fully eroded, its current liabilities exceeded
its current assets as at the balance sheet date, the entire
investment should be provided for impairment. However,
the management believes that the investment in
subsidiary is good for recovery. In the absence of any
supportive audit evidence, we are unable to comment on
the recoverability of this investment. Had the Company
made the provision, the loss for the year would have
been higher by Rs 132.00 lakhs and the investment as at
that date would have been lower by Rs 132.00 lakhs.

c. We conducted our audit of the standalone financial
statements in accordance with the Standards on Auditing
("SAs") specified under Section 143(10) of the Act. Our

responsibilities under those SAs are further described in
the Auditors'' Responsibility for the Audit of the Standalone
Financial Statements section of our report. We are
independent of the Company in accordance with the
Code of Ethics issued by the Institute of Chartered
Accountants of India ("ICAI") together with the ethical
requirements that are relevant to our audit of the
standalone financial statements under the provisions of
the Act and Rules thereunder, and we have fulfilled our
other ethical responsibilities in accordance with these
requirements and the ICAI''s Code of Ethics. We believe
that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our qualified opinion
on the standalone financial statements.

Key Audit Matters

Key audit matters are those matters that, in our professional
judgment, were of most significance in our audit of the
standalone financial statements of the current period. These
matters were addressed in the context of our audit of the
standalone financial statements as a whole and in forming our
opinion thereon, and we do not provide a separate opinion on
these matters. We have determined the matters described below
to be the key audit matters to be communicated in our report.

Sr. No.	Key Audit Matters	Auditor’s Response
1	Accuracy and	Our audit procedures in relation to
	completeness of	the disclosure of related party
	disclosure of related	transactions included the
	party transactions and	following:
	compliance with the	• We obtained an understanding
	provisions of Companies	related to capturing of related
	Act 2013 and SEBI	party transactions and
	(Listing Obligations and	management’s process of
	Disclosure Requirements)	ensuring all transactions and
	Regulations, 2015, as	balances with related parties
	amended (‘SEBI (LODR)	have been disclosed in the
	2015’) (as described in	standalone financial
	note 22 of the standalone	statements.
	financial statements)	• We obtained an understanding of the Company’s policies and
	We identified the accuracy	procedures in respect of
	and completeness of	evaluating approval process by
	disclosure of related party	the audit committee and the
	transactions as set out in	board of directors.
	respective notes to the	• We agreed the amounts
	standalone financial	disclosed with underlying
	statements as a key audit	documentation, on a sample
	matter due to:	basis, as part of our evaluation
	• the significance of	of the disclosure.
	transactions with related	• We assessed management
	parties during the year	evaluation of compliance with
	ended 31 March 2024.	the provisions of Section 177
	• Related party	and Section 188 of the
	transactions are subject	companies Act 2013 and SEBI
	to the compliance	(LODR) 2015.
	requirement under the	• We evaluated the disclosures
	Companies Act 2013	through reading of statutory
	and SEBI (LODR) 2015.	information, books and records and other documents obtained during the course of our audit.

Information other than the Standalone Financial Statements
and Auditor''s Report thereon

The Company''s Board of Directors are responsible for the
other information. The other information comprises the
information included in the 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.

The Annual Report is not made available to us at the date of
this auditor''s report. We have nothing to report in this regard.

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

The accompanying standalone financial statements have been
approved by the Board of Directors of the Company. The
Company''s Board of Directors is responsible for the matters
stated in Section 134(5) of the Act, with respect to the
preparation and presentation of these standalone financial
statements that give a true and fair view of the financial position,
financial performance including other comprehensive income,
changes in equity and cash flows of the Company in accordance
with Ind AS and other accounting principles generally accepted
in India. This responsibility also includes maintenance of
adequate accounting records in accordance with the provisions
of the Act 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
standalone financial statements that give a true and fair view
and are free from material misstatement, whether due to fraud
or error.

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

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

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

Auditors'' Responsibility for the Audit of the Standalone
Financial Statements (Continued)

As part of an audit in accordance with SAs specified under
section 143(10) of the Act, 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 system in place and the operating effectiveness of
such controls.

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

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

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

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

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

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

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 Section 143(11) of the Act, we give in
"Annexure A", a statement on the matters specified in the
paragraphs 3 and 4 of the Order, to the extent applicable.

2. Further to our comments in Annexure A, as required by
Section 143(3) of the Act based on our audit, we report to
the extent applicable, that:

(a) except for the possible effects of the matter described
in the Basis for Qualified Opinion paragraph, 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 of
the accompanying standalone financials statements:

(b) except for the possible effects of the matter described
in the Basis for Qualified Opinion paragraph, 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 financial statements dealt with by
this report are in agreement with the books of account;

(d) except for the possible effects of the matter described
in the Basis for Qualified Opinion paragraph, in our
opinion, the aforesaid standalone financial
statements comply with the Ind AS prescribed under
Section 133 of the Act;

(e) in our opinion, the matter described in the Basis of
Qualified Opinion paragraph above, may have an
adverse effect on the functioning of the Company;

(f) on the basis of the written representations received
from the directors 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;

(g) the qualification relating to the maintenance of
accounts and other matters connected therewith is as
stated in the Basis for Qualified Opinion paragraph
above;

(h) with respect to the adequacy of the internal financial
controls over financial reporting of the Company and
the operating effectiveness of such controls, refer to
our separate Report in "Annexure B". Our report
expresses an unmodified opinion on the adequacy
and operating effectiveness of the Company''s internal
financial controls over financial reporting; and

(i) 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, as
amended, in our opinion and to the best of our
information and according to the explanations given
to us:

i. the standalone financial statements disclose the
impact of pending litigations on the standalone
financial position of the Company as at 31 March
2024 - Refer note 21(A) to the standalone
financial statements;

ii. the Company did not have any long-term
contracts, including derivative contracts, for which
there were any material foreseeable losses as at
31 March 2024;

iii. there were no amounts which were required to
be transferred to the Investor Education and
Protection Fund by the Company during the year
ended 31 March 2024.

iv. (a) The management has represented that, to the

best of its knowledge and belief, no funds have
been advanced or loaned or invested (either
from borrowed funds or securities premium or
any other sources or kind of funds) by the
Company to or in any person(s) or entity(ies),
including foreign entities (''the 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 (''the Ultimate Beneficiaries'') or
provide any guarantee, security or the like on
behalf the Ultimate Beneficiaries.

(b) The management has represented that, to the

best of its knowledge and belief, no funds have
been received by the Company from any
person(s) or entity(ies), including foreign entities
(''the 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 performed as

considered reasonable and appropriate in the
circumstances, nothing has come to our notice
that has caused us to believe that the
management representations under sub-clauses
(a) and (b) above contain any material
misstatement.

v. The Company has not declared or paid any dividend
during the year ended 31 March 2024.

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

3. 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, the Company has not paid
managerial remuneration to its directors during the current
year.

For Saini Pati Shah & Co LLP

Chartered Accountants

FRN - 137904W/W100622

Ankush Shah

Partner

Membership No: 145370

UDIN: 24145370BKFVDD1264

Place: Mumbai

Dated: 28/05/2024

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Mar 31, 2015

We have audited the accompanying financial statements of SRM Energy Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2015, the Statement of Profit and Loss, 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

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 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 and ensuring their operating effectiveness and 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 materia! 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 thereunder.

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 disclosures in the financial statements. The procedures selected depend on the auditors' 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 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 controls 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 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, its loss and its cash flows for the year ended on that date.

Emphasis of Matter

We draw attention to Note 27 of the financial statements of the Company, wherein as stated, the Company's networth has been significantly reduced and it has been incurring cash losses and the promoters have infused funds by way of unsecured loan and are committed to provide necessary funding to meet the liabilities and future running expenses of the Company. Further, the Board of Directors of the Company have decided to sell/dispose off the power plant transferred in its wholly owned subsidiary, subject to necessary approvals from the shareholders and other statutory authorities, if any. In view of above developments, the accounts have been prepared under going concern basis.

Our opinion is not modified in respect of this matter.

Report on Other Legal and Regulatory Requirements

(1) As required by the Companies (Auditors' 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, 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 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 Auditors' Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

(i).The Company has disclosed the impact of pending litigations on its financial position in ....its financial-statements- Refer Note 17 on Contingent Liabilities;

(ii) The Company did not have any long-term contracts including derivative contracts; hence, the question of any material foreseeable losses does not arise;

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

ANNEXURE TO INDEPENDENT AUDITORS'S REPORT

[Referred to in paragraph 1 under 'Report on Other Legal and Regulatory Requirements' in the Independent

Auditors' Report of even date to the members of SRM Energy Limited on the financial statements for the year ended 31-03-2015]

(I) The Company does not have fixed assets. Hence, clause 3(i)(a) and 3(i)(b) of the Order are not applicable to the Company.

(ii) The Company did not hold any inventory during the year. Hence, clause 3(ii)(a), 3(ii)(b) and 3(ii)(c) of the Order are not applicable to the Company.

(iii) As informed, the Company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under Section 189 of the Act. Accordingly, the provisions stated in paragraph 3 (iii)(a) and 3 (iii)(b) of the Order are not applicable.

(iv) The Company does not hold any inventory or fixed assets and does not have any sale of goods or services. Hence, clause 3(iv) of the Order is not applicable to the Company.

(v) In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public within the provisions of Sections 73 to 76 of the Act and the rules framed there under.

(vi) Considering the present activities of the Company, the Central Government of India has not prescribed the maintenance of cost records for any of the products of the Company under sub-section (1) of Section 148 of the Act and the rules framed there under.

(vii) (a) The Company is generally regular in depositing with appropriate authorities, undisputed statutory dues of income tax, cess and other material statutory dues applicable to it.

(b) According to the information and explanation given to us, the dues outstanding with respect to income tax and other material statutory dues applicable to it, on account of any dispute, are as follows:

Name of the Nature of Amount Rs in Period to which the Forum where statute dues million amount relates dispute is pending

Income Tax Act, A.Y 2003-04 to TDS 1961 TDS 0.73 2006-07 CIT(Appeals)

(c) According to the information and explanations given to us, there were no amounts which were required to be transferred to the.Investor Education and Protection Fund by the Company.

(viii) The accumulated losses of the Company are more than fifty percent of its net worth. Further, the Company has incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year.

(ix) The Company has not borrowed any amount from financial institution, banks or debenture holders. Hence the provisions of clause 3(ix) of the Order are not applicable to the Company.

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

(xi) The Company has not obtained any term loans.

(xii) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of any such instance by the management.

For Haribhakti & Co. LLP Chartered Accountants ICAI Firm Registration No.103523W

Bhavik L. Shah Partner Membership No. 122071

Place : Mumbai Date : 01.06.2015

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Mar 31, 2014

We have audited the accompanying financial statements of SRM Energy Limited ("the Company"), which comprise the Balance Sheet as at March 31, 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"). 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.

Auditors'' 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 auditors'' 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 Company''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 Statement of Profit and Loss, of the loss 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. Emphasis of Matter

We draw attention to Note no. 26 of the financial statements. As stated therein, the Company''s net worth has been substantially eroded, However, the accompanying financial statements have been

prepared on a going concern basis, after giving due considerations to all matters more fully explained in the aforesaid note.Our opinion is not qualified in respect of this matter.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors'' 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.

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;

d. 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;

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

ANNEXURE TO AUDITORS'' REPORT

[Referred to in paragraph 1 under ''Report on Other Legal and Regulatory Requirements'' in the Independent Auditors'' Report of even date to the members of SRM Energy Limited on the financial statements for the year ended 31st March, 2014]

(i) (a) Consequent upon demerger of the Company, All fixed assets of the Company (except Capital

Work-in- Progress amounting to '' 1.08 Million) have been transferred to wholly owned subsidiary SRM Energy Tamilnadu Private Limited. Hence, clause 4 (ii) (a) and 4 (ii) (b) of the Order are not applicable to the Company.

(b) On the basis of our examination of the books and records of the company, and according to the information and explanations given to us, we are of the opinion that the disposal of the fixed assets has not affected the going concern status of the Company.

(ii) The Company did not hold any inventory during the year. Hence, clause 4 (ii) (a), 4 (ii) (b) and 4 (ii) (c) of the Order are not applicable to the Company.

(iii) (a) As informed, the Company has not granted any loans, secured or unsecured to companies,

firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly, the provisions stated in paragraph 4 (iii) (b), (c) and (d) of the Order are not applicable.

(e) As informed, the Company had taken unsecured interest free loan from a party covered in the register maintained under Section 301 of the Companies Act, 1956. The maximum amount involved during the year was '' 5.12 million and the year-end aggregate balance of loans taken from such parties was '' 5.12 million.

(f) In our opinion and according to the information and explanations given to us, terms and conditions for such interest free loan are not, prima facie, prejudicial to the interest of the Company.

(g) The said loan is repayable on demand.

(iv) In our opinion and according to the information and explanations given to us, there exists an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of fixed assets. During the course of our audit, we have not observed any continuing failure to correct any major weaknesses in aforesaid internal control system of the Company.

(v) According to the information and explanations given to us, there have been no contracts or arrangements referred to in Section 301 of the Act during the year which are required to be entered in the register maintained under that Section. Accordingly, clause v (b) of the order is not applicable.

(vi) In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public within the meaning of Sections 58A and 58AA of the Act and the rules framed there under.

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

(viii) The Central Government of India has prescribed the maintenance of cost records under clause

(d) of sub-section (1) of Section 209 of the Act in respect of the class of the Company (i.e. Electricity Industry). However, since the Company is in the pre-operative stage, maintenance of cost records is considered as applicable only upon commencement of commercial operations.

(ix) (a) According to the information and explanations given to us, the Company is generally regular

in depositing with appropriate authorities undisputed statutory dues of income-tax and other material statutory dues as applicable, with the appropriate authorities.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income-tax, cess and other undisputed statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable.

(c) According to the records of the Company, the dues outstanding of income-tax, sales-tax, wealth- tax, service tax, customs duty, excise duty and cess on account of dispute, are as follows:

Period to which Name of the Nature of Amount the amount Forum where dispute statute dues in million relates is pending

Income Tax TDS 0.73 A.Y 2003-04 to CIT(Appeals) 1961 2006-07

(x) In our opinion, the accumulated losses of the Company at the end of the financial year are more than fifty percent of its net worth. Further, the Company has incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year.

(xi) The Company has not borrowed any amount from banks, financial institution or debenture holders. Hence the provisions of clause 4(xi) of the Order are not applicable to the Company.

(xii) According to the information and explanations given to us and based on the documents and records produced to us, the Company has not granted loans & advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In our opinion, the Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the provisions of clause (xiii) of the Order are not applicable to the Company.

(xiv) In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause (xiv) of the Order are not applicable to the Company.

(xv) In our opinion and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions during the year.

(xvi) The Company has not obtained any term loan.

(xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that the Company has used short term funds amounting to '' 3.54 millions for long term purpose, to meet its operational expenditure/loss.

(xviii) According to the information and explanation given to us, the Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act, 1956.

(xix) The Company did not have any outstanding debentures during the year.

(xx) The Company has not raised any money by way of public issue during the year.

(xxi) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management.

For Haribhakti & Co. Chartered Accountants Firm Registration No.103523W

Atul Gala Gurgoan, Partner Date: May 29, 2014 Membership No. 048650

---

Mar 31, 2013

Report on the Financial Statements

We have audited the accompanying financial statements of SRM Energy Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2013, 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

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

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

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

Opinion .

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

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

(b) in the case of the Statement of Profit and Loss, of the loss 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.

Emphasis of Matter

We draw attention to:

(a) Note 3 and 4 of the financial statements, regarding the reasons'' for restatement of the financial statements consequent upon Demerger of Cuddalore Power Division of the Company.

(b) Note 29 of the financial statements. As stated therein, the Company''s networth has been substantially eroded, However, the accompanying financial statements have been prepared on a going concern basis, after giving due considerations to all matters more fully explained in the aforesaid note.

Our opinion is not qualified in respect of the matter stated in (a) and (b) above.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors'' 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.

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;

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

e. on the basis of written representations received from the directors as on March 31, 2013 and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2013, from being appointed as a director in terms of clause (g) of sub-section (1) of . Section 274 of the Companies Act, 1956.

ANNEXURE TO AUDITORS'' REPORT

[Referred to in paragraph 1 under ''Report on Other Legal and Regulatory Requirements'' in the Independent Auditors'' Report of even date to the members of SRM Energy Limited on the financial statements for the year ended 31st March, 2013]

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

(b) The fixed assets of the Company have been physically verified by the management during the year and no material discrepancies between the book records and the physical inventory have been noticed. In our opinion, the frequency of verification is reasonable.

(c) In our opinion and according to the information and explanations given to us, a substantial part of fixed assets has not been disposed off by the Company during the year.

(ii) The Company did not hold any inventory during the year. Hence, clause 4(ii)(a), 4(ii)(b) and 49(ii)(c) of the Order are not applicable to the Company.

(iii) (a) As informed,- the Company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Accordingly, the provisions stated in paragraph 4 (iii)(b),(c) and (d) of the Order are not applicable.

(b) As informed, the Company had taken unsecured interest free loan from a party covered in the register maintained under Section 301 of the Companies Act, 1956 amounting to Rs. 277.00 million, out of which loan amounting to Rs. 274.58 is transferred to its wholly owned subsidiary as per the scheme of demerger. The balance amount of Rs. 2.42 million is considered as maximum amount outstanding during the year and the year-end balance.

(c) In our opinion and according to the information and explanations given to us, terms and conditions for such interest free loan are not, prima facie, prejudicial to the interest of the Company.

(d) The said loan is repayable on demand.

(iv) In our opinion and according to the information and explanations given to us, there exists an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of fixed assets. During the course of our audit, we have not observed any continuing failure to correct any major weaknesses in aforesaid internal control system of the Company.

(v) According to the information and explanations given to us, there have been no contracts or arrangements referred to in Section 301 of the Act during the year to be entered in the register required to be maintained under that Section. Accordingly, the question of commenting on transactions made in pursuance of such contracts or arrangements does not arise.

(vi) In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public within the meaning of Sections 58A and 58AA of the Act and the rules framed there under.

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

(viii) The Central Government of India has prescribed the maintenance of cost records under clause (d) of sub-section (1) of Section 209 of the Act in respect of the class of the Company (i.e. Electricity Industry). However, since the Company is in the pre-operative stage, maintenance of cost records is considered as applicable only upon commencement of commercial operations.

(ix) (a) According to the information and explanations given to us, The Company is generally regular in depositing with appropriate authorities undisputed statutory dues of income-tax and other material statutory dues as applicable, with the appropriate authorities.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income-tax, cess and other undisputed statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable.

(c) According to the records of the Company, the dues outstanding of income-tax, sales-tax, wealth-tax, service tax, customs duty, excise duty and cess .on account of dispute, are as follows:

Name of the Nature of dues Amount Period to which Forum where statute Rs. in million the amount dispute is relates pending

Income Tax Act, TDS 0.73 A.Y 2003-04 CIT(Appeals) 1961_ to 2006-07

(x) In our opinion, the accumulated losses of the Company at the end of the financial year are more than fifty percent of its net worth. Further, the Company has incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year.

(xi) The Company has not borrowed any amount during the year from banks, financial institution or debenture holders. Hence the provisions of clause 4(xi) of the Order are not applicable to the Company.

(xii) According to the information and explanations given to us and based on the documents and I records produced to us, the Company has not granted loans & advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In our opinion, the Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the provisions of clause (xiii) of the Order are not applicable to the Company.

(xiv) In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause (xiv) of the Order are not applicable to the Company.

(xv) In our opinion and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions during the year.

(xvi) The Company has not obtained any term loans. ''

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

(xviii) According to the information and explanation given to us, the Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act, 1956.

(xix) The Company did not have any outstanding debentures during the year.

(xx) The Company has not raised any money by way of public issue during the year.

(xxi) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management.

For Haribhaktl & Co.

Chartered Accountants

Firm Registration No.103523W

Atul Gala

Place: Mumbai, '' Partner

Date: October 18, 2013. '' Membership No. 048650

---

Mar 31, 2012

We have audited the accompanying financial statements of SRM Energy Limited("the Company"), which comprise the Balance Sheet as at March 31, 2012, and the Statement of Profit and Loss and Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ("the Act"). 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.

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

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

Opinion

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

(a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2012;

(b) in the case of the Statement of Profit and Loss, of the loss 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.

Emphasis of Matter

We draw attention to Note 28 of the financial statements with regard to the preparation of the financial statements on a going concern assumption. The Company has incurred a net loss of Rs. 3.50 Million during the year ended 31.3.2012 and as of that date, the Company's net worth has been substantially eroded.

The Company's ability to continue as a going concern is dependent on the factors mentioned in note therein and no adjustments have been made in the accompanying financial statements. Our report is not qualified in respect of this matter.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors' 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.

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;

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

e. on the basis of written representations received from the directors as on March 31, 2012, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2012, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

[Referred to in paragraph 1 under Report on Other Legal and Regulatory Requirements', in the Independent Auditors' Report of even date to the members of SRM Energy Limited on the financial statements for the year ended 31s! March, 2012]

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

(b) The fixed assets of the Company have been physically verified by the management during the year and no material discrepancies between the book records and the physical inventory have been noticed. In our opinion, the frequency of verification is reasonable.

(c) .In our opinion and according to the information and explanations given to us, a substantial part of fixed assets has not been disposed of by the Company during the year.

(ii) The Company did not carry any inventory during the year. Hence, clause 4(ii)(a), 4(ii)(b) and 49(ii)(c) of the Order are not applicable to the Company.

(iii) (a) As informed, the Company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly, the provisions stated in paragraph 4 (iii)(b),(c) and (d) of the Order are not applicable.

(b) As informed, the Company had taken unsecured loan from one company covered in the register maintained under section 301 of the Companies Act, 1956. The maximum amount involved during the year was Rs. 9.10 Million and the year-end balance of loan taken from such party was Rs. 3.30 Million.

(c) In our opinion and according to the information and explanation-given to us, the rate of interest and other terms and conditions for such loans are not, prima facie, prejudicial to the interest of the Company.

(d) In respect of the aforesaid loans, the Company is regular in repaying the principal amounts as stipulated and has been regular in payment of interest.

(iv) In our opinion and according to the information and explanations given to us, tbere exists an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of fixed assets. During the course of our audit, we have not observed any continuing failure to correct any major weakness in aforesaid internal control system of the Company.

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

(b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of such contracts or arrangements exceeding value of rupees five lakhs have been entered into during the financial year at prices which are reasonable having regard to the prevailing market prices at the relevant time.

(vij In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public within the meaning of Sections 58A and 58AA of the Act and the rules framed there under.

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

(viii) The Central Government of India has prescribed the maintenance of cost records under clause (d) of sub-section (1) of Section 209 of the Act in respect of the class of the Company (i.e. Electricity Industry). However, since the Company is in the pre-operative stage during the year under review, maintenance of cost records is considered as applicable only upon commencement of commercial operations.

(ix) (a) The Company is regular in depositing with appropriate authorities undisputed statutory dues of income-tax. As informed to us, the provisions relating to employees state insurance and provident fund are not applicable to the Company for the year under audit.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income-tax, cess and other undisputed statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable.

(c) According to the records of the Company, the dues outstanding of income-tax, sales-tax, wealth- tax, service tax, customs duty, excise duty and cess on account of any dispute, are as follows:

Name of the Nature of Amount Period to Forum where statute dues Rs. in Milion which the dispute amount relates is pending

Income Tax Act ,1961 TDS 0.08 A.Y 2006-07 CIT(Appeals)

Income Tax Act ,1961 TDS 0.28 A.Y 2005-06 CIT(Appeals)

Income Tax Act ,1961 TDS 0.36 A.Y 2004-05 CIT(Appeals)

Income Tax Act ,1961 TDS 0.01 A.Y 2003-04 CIT(Appeals)

(x) In our opinion, the accumulated losses of the Company at the end of the financial year are more than fifty percent of its net worth. Further, the Company has incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year.

(xi) The Company has not borrowed any amount during the year from banks, financial institution or debenture holders. Hence the provisions of clause 4(xi) of the Order are not applicable to the Company.

(xii) According to the information and explanations given to us and based on the documents and records produced to us, the Company has not granted loans & advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In our opinion, the Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the provisions of clause (xiii) of the Order are not applicable to the Company.

(xiv) In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause (xiv) of the Order are not applicable to the Company.

(xv) In our opinion and according to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions during the year.

(xvi) The Company has not obtained any term loans.

(xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that funds raised on short-term basis have been used for long-term investment. The Company has accepted further share application money during the year which has been utilized for the purposes of the Project to the tune of Rs. 45.20 Million.

(xviii) According to the information and explanation given to us, the Company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under Section 301 of the Companies Act, 1956.

(xix) The Company did not have any outstanding debentures during the year.

(xx) The Company has not raised any money by way of public issue during the year.

(xxi) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management.

For Haribhakti & Co.

Chartered Accountants

FRN NO.103523W

Sumant Sakhardande

Place: Mumbai. Partner

Date : April 09, 2012. Membership No.34828