Auditor Report of Sunday Exports Ltd.

Mar 31, 2011

1. We have audited the attached Balance Sheet of SUNDAY EXPORTS LTD. As at 31st March.2011 and also the Profit and Loss Account for the year ended as on that date annexed thereto. These financial statements are the responsibility of the company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

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

3. As required by the companies (Auditor's Report) order 2003 issued by the central Government of India in terms of sub-section (4A) of section 227 of the companies Act. 1956, we enclose in the annexure a statement on the matters specified in paragraph 4 and 5 of the said order.

4. Further to our comments in the annexure referred to in Para I above, 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 the law have been kept by the Company so far as appears from our examination of the books of the Company;

(iii) The Balance sheet and Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account.

(iv) In our Opinion, the Balance Sheet, Profit & Loss Account dealt with by this report comply with the accounting standard referred to in section 211 (3C) of the Companies Act. 1956.

(v) On the basis of written representations received from the Directors, as on 31st March 2011 and taken on record by the Board of Directors of the Company and the information and explanation given to us, none of the directors is, as at 31st March 2011, prima facie disqualified from being appointed as Directors in terms of clause (g) of sub-section (1) of section 274 of the Companies Act. 1956.

(vi) In our opinion and to the best of our information and according to the explanation given to us, the said financial statements, read together with the significant accounting policies, and other notes thereon, give the information required by the Companies Act. 1956 in the manner so required and present to 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 31st March. 2011.

(b) In the case of the Profit & Loss Account of the profit for the period ended as at 31 st March, 2011.

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

Annexure To The Auditors' Report

(Referred to in Paragraph 3 of our Report of even date) On the basis of such checks as we considered appropriate during the course of audit, we state that:

(1) (a) The Company is in the process of updating records showing full particulars including quantitative details and situation of fixed assets.

(b) As explained to us, fixed assets are physically verified by the management during the year, in accordance with the program of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification. -

(c) None of the fixed assets has been revalued during the year.

(d) The company has not disposed off any substantial part of its fixed assets during the year, so as to affect going concern concept.

(2) (a) The physical verification of stocks of finished goods, semi finished goods and raw materials has been conducted at reasonable intervals during the year by the Management.

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

(c) The Company has maintained proper record of inventories. There was no material discrepancies noticed on physical verification of inventories as compared to book records.

(3) (a) The Company has not granted any loans to companies, firms or parties covered in the Register, maintained u/s. 301 of the Companies Act, 1956. The company has also not taken any loans, secured or unsecured from Companies under the same management within the meaning of section 3 70( 1 )(B) of the Companies Act, 1956.

(b) The Company has not given any loans during the year. The rates of interest and other terms and conditions on which loans have been taken by the Company are not, prima facie, prejudicial to the interest of the Company.

(4) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of raw-materials including components, equipments and other assets and for the sale of goods.

(5) In respect of transaction entered in the register maintained u/s. 301 of ten Companies Act, 1956:

(a) On the basis of the audit procedures applied by us and according to the information and explanations provided by the management, we are of the opinion that all the transactions required to be entered into the register maintained under section 301 have been so entered.

(b) In our opinion and based on the information and explanations given to us, the transactions exceeding the value of rupees five lacs rupees in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

(6) The company has not accepted deposits during the year from public within the meaning of the provisions of Section 58AA of the Companies Act, 1956 and rules made there under. Hence clause of the order is not applicable.

(7) The Company does not have an internal audit system commensurate with the size and nature of its business. _

(8) The company is not required to maintain cost records as per rules made by the Central Government for maintenance of cost records under section 209(l)(d) of The Companies Act, 1956.

(9) (a) The company is generally regular in depositing undisputed statutory dues including provident [ fund, employees' state insurance; income tax, sales tax, wealth tax, custom duty, excise duty, cess and other statutory dues within the prescribed time limits with the appropriate authorities during the year.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income-tax, wealth-tax, sales-tax, customs duty and excise duty were outstanding, as at 31st march, 2011 for a period of more than six months from the date they become payable.

(c) According to the records of the company, there and no dues of Sales-tax, income-tax, sales-tax, wealth-tax, excise duty, cess which have not been deposited on account of any dispute.

(10) In our opinion and according to the information and explanation given to us, the company has defaulted in repayment of dues to a financial institutions and banks.

(11) In our opinion and according to the information and explanation given to us, the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(12) In our opinion and according to the information and explanation given to us, the Company has not given any guarantee for loans taken by others from bank or financial institutions.

(13) In our opinion and according to the information and explanation given to us, the term loans have been applied for the purpose for which they were raised.

(14) 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 investments and vice versa.

(15) The company has not made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956.

(16) The company has not issued any debentures during the period.

(17) The company has not raised any monies through a public issue during the year.

(18) According to the explanation and information given to us, based upon the audit procedures per- formed and representations made by the management, we report that no fraud on or by the Company has been noticed of reported during the course of our Audit.

Looking to the nature of the activities being carried on, at present, by the Company, clause (13) and (14) of paragraph 4 of the Companies (Auditors' Report) Order, 2003 are not applicable to the Company.

For Jagasheth & Co.

Chartered Accountants

Surat P. M. Jagasheth

Date: 27-08-2011 Proprietor

M.No. : 100970

---

Mar 31, 2010

1. We have audited the attached Balance Sheet of SUNDAY EXPORTS LTD. as at 31 st March. 2010 and also the Prifit and Loss Account for the year ended as on that date annexed thereto. These financial statmenets are the responsibility of the companys management. Our responsiblity is to express an opinion on these financial statments based on our audit.

2. We have conducted our audit in accordance with auditing standars 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 inclueds. examining, on a test basis, evi- dence supporting the amounts and disclosures in the financial statements. An audit also inclueds 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 provies a reasonable basis for our opinion.

3. As required by the companies (Auditors Report) order 2003 issued by the central Government of India in terms of sub-section (4A) of seetion 227 of the companies Act. 1956, we enclose in the annexure a statement on the matters specified in puragraph 4 and 5 of the said order.

4. Further to our comments in the annexure referred to in Para I above, 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 the law have been kept by the Company so far as appears from our examination of the books of the Company;

(iii) The Balance sheet and Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account.

(iv) In our Opinion, the Balance Sheet, Profit & Loss Account dealt with by this report comply with the accounting standard referred to in section 211 (3C) of the Companies Act. 1956.

(v) On the basis of written representations received from the Directors, as on 31st March 2010 and taken on record by the Board of Directors of the Company and the information and explanation given to us, none of the directors is, as at 31st March 2010, prima facie disqualified from being appointed as Directors in terms of clause (g) of sub-section (1) of section 274 of the Companies Act. 1956.

(vi) In our opinion and to the best of our information and according to the explanation given to us, the said financial statements, read together with the significant accounting policies, and other notes thereon, give the information required by the Companies Act. 1956 in the manner so required and present to 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 31st March. 2010.

(b) In the case of the Profit & Loss Account of the profit for the period ended as at 31st March, 2010.

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

Annexure To The Auditors Report

(Referred to in Paragraph 3 of our Report of even date) On the basis of such checks as we considered appropriate during the course of audit, we state that:

(1) (a) The Company is in the process of updating records showing full particulars including quantitative details and situation of fixed assets.

(b) As explained to us, fixed assets are physically verified by the management during the year, in accordance with the program of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification.

(c) None of the fixed assets has been revalued during the year.

(d) The company has not disposed off any substantial part of its fixed assets during the year, so as to affect going concern concept.

(2) (a) The physical verification of stocks of finished goods, semi finished goods and raw materials has been conducted at reasonable intervals during the year by the Management.

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

(c) The Company has maintained proper record of inventories. There was no material discrepancies noticed on physical verification of inventories as compared to book records.

(3) (a) The Company has not granted any loans to companies, firms or parties covered in the Register, maintained u/s. 301 of the Companies Act, 1956. The company has also not taken any loans, secured or unsecured from Companies under the same management within the meaning of section 370( 1 )(B) of the Companies Act, 1956.

(b) The Company has not given any loans during the year. The rates of interest and other terms and conditions on which loans have been taken by the Company are not, prima facie, prejudicial to the interest of the Company.

(4) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of raw-materials inclding components, equipments and other assets and for the sale of goods.

(5) In respect of transaction entered in the register maintained u/s. 301 of teh Companies Act, 1956:

(a) On the basis of the audit procedures applied by us and according to the information and explana- tions provided by the management, we are of the opinion that all the transactions required to be entered into the register maintained under section 301 have been so entered.

(b) In our opinion and based on the information and explanations given to us, the transactions exceeding the value of rupees five lacs rupees in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

(6) The company has not accepted deposits during the year from public within the meaning of the provisions of Section 58AAof the Companies Act, 1956 and rules made there under. Hence clause of the order is not applicable.

(7) The Company does not have an internal audit system commensurate with the size and nature of its business. ^^^^

(8) The company is not required to maintain cost records as per rules made by the Central Government for maintenance of cost records under section 209( 1 )(d) of The Companies Act, 1956.

(9) (a) The company is generally regular in depositing undisputed statutory dues including provident fund, employees state insurance; income tax, sales tax, wealth tax, custom duty, excise duty, cess and othe statutory dues within the prescribed time limits with the appropriate authorities during the year.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income-tax, wealth-tax, sales-tax, cutoms duty and excise duty were outstanding, as at 3 Is march, 2010 for a period of more than six months from the date they become payable.

(c) Accoring to the records of the company, there ane no dues of Sales-tax, income-tax, sales-tax, wealth-tax, excise duty, cess which have not been deposited on account of any dispute.

(10) In our opinion and according to the information and explanation given to us, the company has defaulted in repayment of dues to a financial insititutions and banks.

(11) In our opinion and according to the infrormation and explanation given to us, the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other secturties.

(12) In our opinion and according to the infrormation and explanation given to us, the term loans have been applied for the purpose for which they were raised.

(13) 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 investments and vice versa.

(14) The compnay has not made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956.

(15) The company has not issued any debentures during the period.

(16) The company has not raised any monies through a public issue during the year.

(17) According to the explanation and information given to us, base upon the audit procedures per- formed and representations made by the management, we report that no fraud on or by the Company has been noticed of reported during the course of our Audit.

Looking to the nature of the activities being carried on, at present, by the Company, clause (13) and (14) of paragraph 4 of the Companies (Auditors Report) Order, 2003 are not applicable to the Company.

For Jagasheth & Co.

Chartered Accountants

Surat P. M. Jagasheth

Date: 09-09-2010 Proprietor

M.No. : 100970

---

Mar 31, 2009

1. We have audited the attached Balance Sheet of SUNDAY EXPORTS LTD. as at 31st March. 2009 and also the Prifit and Loss Account for the year ended as on that date annexed thereto. These financial statmenets are the responsibility of the companys management. Our responsiblity is to express an opinion on these financial statments based on our audit.

2. We have conducted our audit in accordance with auditing standars 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 inclueds. examining, on a test basis. evi- dence supporting the amounts and disclosures in the financial statements. An audit also inclueds 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 provies a reasonable basis for our opinion.

3. As required by the companies (Auditors Report) order 2003 issued by the central Government of India in terms of sub-section (4A) of seetion 227 of the companies Act. 1956, we enclose in the annexure a statement on the matters specified in puragraph 4 and 5 of the said order.

4. Further to our comments in the annexure referred to in Para I above, 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 the law have been kept by the Company so far as appears from our examination of the books of the Company;

(iii) The Balance sheet and Profit & Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account.

(iv) In our Opinion, the Balance Sheet, Profit & Loss Account dealt with by this report comply with the accounting standard referred to in section 21l(3C)ofthe Companies Act. 1956.

(v) On the basis of written representations received from the Directors, as on 31st March 2009 and taken on record by the Board of Directors of the Company and the information and explanation given to us, none of the directors is, as at 31st March 2009, prima facie disqualified from being appointed as Directors in terms of clause (g) of sub-section (1) of section 274 of the Companies Act. 1956.

(vi) In our opinion and to the best of our information and according to the explanation given to us, the said financial statements, read together with the significant accounting policies, and other notes thereon, give the information required by the Companies Act. 1956 in the manner so required and present to 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 3 lst March. 2009.

(b) In the case of the Profit & Loss Account of the profit for the period ended as at 31 st March, 2009.

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

Annexure To The Auditors Report (Rererred to in Paragraph 3 of our Report of even date)

On the basis of such checks as we considered appropriate during the course of audit, we state that:

(1) (a) The Company is in the process of updating records showing full particulars including quantitative details and situation of fixed assets.

(b) As explained to us, fixed assets are physically verified by the management during the year, in accordance with the program of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification.

(c) None of the fixed assets has been revalued during the year.

(d) The company has not disposed off any substantial part of its fixed assets during the year, so as to affect going concern concept.

(2) (a) The physical verification of stocks of finished goods, semi finished goods and raw materials has been conducted at reasonable intervals during the year by the Management.

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

(c) The Company has maintained proper record of inventories. There was no material discrepancies noticed on physical verification of inventories as compared to book records.

(3) (a) The Company has not granted any loans to companies, firms or parties covered in the Register, maintained u/s. 301 of the Companies Act, 1956. The company has also not taken any loans, secured or unsecured from Companies under the same management within the meaning of section 370(1 )(B) of the Companies Act, 1956.

(b) The Company has not given any loans during the year. The rates of interest and other terms and conditions on which loans have been taken by the Company are not, prima facie, prejudicial to the interest of the Company.

(4) In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of raw-materials inclding components, equipments and other assets and for the sale of goods.

(5) In respect of transaction entered in the register maintained u/s. 301 of teh Companies Act, 1956:

(a) On the basis of the audit procedures applied by us and according to the information and explana- tions provided by the management, we are of the opinion that all the transactions required to be entered into the register maintained under section 301 have been so entered.

(b) In our opinion and based on the information and explanations given to us, the transactions exceeding the value of rupees five lacs rupees in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

(6) The company has not accepted deposits during the year from public within the meaning of the provisions of Section 58AA of the Companies Act, 1956 and rules made there under. Hence clause of the order is not applicable.

(7) The Company does not have an internal audit system commensurate with the size and nature of its business.

(8) The company is not required to maintain cost records as per rules made by the Central Government for maintenance of cost records under section 209(1)(d) of The Companies Act, 1956.

(9) (a) The company is generally regular in depositing undisputed statutory dues including provid fund, employees state insurance; income tax, sales tax, wealth tax, custom duty, excise duty, cess and othe statutory dues within the prescribed time limits with the appropriate authorities during the year.

(b) According to the information and explanations given to us, no undisputed amounts payable in respect of income-tax, wealth-tax, sales-tax, cutoms duty and excise duty were outstanding, as at 31st march, 2009 for a period of more than six months from the date they become payable.

(c) Accoring to the records of the company, there ane no dues of Sales-tax, income-tax, sales-tax, wealth-tax, excise duty, cess which have not been deposited on account of any dispute.

(10) In our opinion and according to the information and explanation given to us, the company has defaulted in repayment of dues to a financial insititutions and banks.

(11) In our opinion and according to the infrormation and explanation given to us, the company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other secturties.

(12) In our opinion and according to the infrormation and explanation given to us, the term loans have been applied for the purpose for which they were raised.

(13) 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 investments and vice versa.

(14) The compnay has not made preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Companies Act, 1956.

(15) The company has not issued any debentures during the period.

(16) The company has not raised any monies through a public issue during the year.

(17) According to the explanation and information given to us, based upon the audit procedures per- formed and representations made by the management, we report that no fraud on or by the Company has been noticed of reported during the course of our Audit.

Looking to the nature of the activities being carried on, at present, by the Company, clause (13) and (14) of paragraph 4 of the Companies (Auditors Report) Order, 2003 are not applicable to the Company.

For Jagasheth & Co.

Chartered Accountants

Surat P. M. Jagasheth

Date: 10-08-2009 Proprietor

M.No. : 100970-