Auditor Report of Sunrise Industrial Traders Ltd.

Mar 31, 2025

We have audited the accompanying standalone financial statements of SUNRISE INDUSTRIAL TRADERS LIMITED
("the Company"), which comprise the Balance Sheet as at 31 March 2025, the Statement of Profit and Loss
(including other comprehensive Income), the Statement of cash flows and the Statement for changes in equity for
the year then ended, and a summary of the significant accounting policies and other explanatory information
(herein after referred to as "Standalone IND AS Financial Statements)

In our opinion and to the best of our information and according to the explanations given to us, 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 state of affairs of the Company as at 31 March
2025, the Profit and total comprehensive Loss, changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the standalone financial statement in accordance with the Standards on Auditing (SAs)
specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further
described in the Auditor''s Responsibilities for the Audit of the 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 independence requirements that are relevant to our audit of the
financial statements under the provisions of the Act and the Rules made there under, 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 audit 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.

Description of Key Audit Matters as follows:

The Key Audit Matters	How the matter was addressed in our Audit
a) Evaluation of Uncertain Tax Positions The company had material uncertain tax positions including matters under disputes which are closed/ resolved during the previous year.	« We obtained details of completed tax assessments and demands for the previous years from management 9 We discussed with appropriate senior management and evaluated management''s underlying key assumptions in estimating the tax provisions.

Information Other than the Standalone Financial Statements and Auditor''s Report Thereon

The Company''s Board of Directors is responsible forthe preparation of the other information. The other information
comprises the information included in the Management Discussion and Analysis, Board''s Report including Annexure
to Board''s Report, Business Responsibility Report, Corporate Governance and Shareholder''s Information, but does
not include the standalone financial statements and our auditor''s report thereon.

Our opinion on the standalone financial statements does not cover the other information and we do not express
any form of assurance or 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 during the course of our audit or otherwise appears to be materially
misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other
information; we are required to report that fact. We have nothing to report in this regard.

Management''s Responsibility forthe Standalone Financial Statements

The Company''s Board of Directors is responsible forthe matters stated in section 134(5) of the Companies Act, 2013
("the Act") with respect to the preparation of these Ind AS standalone financial statements that give a true and fair
view of the financial position, financial performance including other comprehensive income, cash flows and changes
in equity of the Company in accordance with the accounting principles generally accepted in India, including the
Indian Accounting Standards (Ind AS) specified under section 133 of the Act read with relevant rules issued there
under.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of
the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other
irregularities; selection and application of appropriate accounting policies; making judgments and estimates that
are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls,
that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to
the preparation and presentation of the standalone Ind AS financial statement 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, management is responsible for assessing the Company''s ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the company''s financial reporting process
Auditor''s Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor''s report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with SAs will always detecta material misstatement when it exists. Misstatements can arise from fraud or errorand
are considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these standalone financial statements.

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

We also:

© Identify and assess the risks of material misstatement of the standalone financial statements, whether due
to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence
that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material
misstatement resulting from fraud is higherthan 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 financial controls 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 reasonable ness 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 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 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 auditor''s report unless law or regulation precludes public disclosure
about the matter or when, in extremely rare circumstances, we determine that a matter should not be
communicated in our report because the adverse consequences of doing so would reasonably be expected to
outweigh the public interest benefits of such communication.

Report on other Legal and Regulatory Requirements

1. 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 (including other comprehensive income), change in
equity and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d) In our opinion, the aforesaid standalone financial statements comply with the Indian Accounting Standards
specified under Section 133 of the Act.

e) On the basis of the written representations received from the directors as on 31 March 2025, taken on
record by the Board of Directors, none of the directors is disqualified as on 31 March 2024 from being
appointed as a director in terms of Section 164 (2) of the Act.

f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and
the operative effectiveness of such controls, refer to our separate Report in "Annexure A". Our report
expresses an unmodified opinion on the adequacy and operating effectiveness of the Company''s internal
financial controls over financial reporting.

g) With respect to the other matters to be included in the Auditor''s Report in accordance with the
requirements of section 197(16) of the Act, as amended:

In our opinion and to the best of our information and according to the explanations given to us, the
remuneration paid by the Company to its directors during the year is in accordance with the provisions of
section 197 of the Act.

h) With respect to the other matters to be included in the Auditor''s Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014 as amended, 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 litigation on its financial position in its standalone
Ind AS financial statements refer Note No (25) to the financial statements.

(ii) The Company has made provision as required under applicable law or accounting standards, for
material foreseeable losses if any on long term contracts including derivative contracts.

(iii) There has been no delay in transferring amounts, required to be transferred to the Investor Education
and Protection Fund by the Company. .

(iv)

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

lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of
the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of
the Ultimate Beneficiaries;

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

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

(v) The company has not declared or paid any dividend during the year in contravention of the provisions
of section 123 of the Companies Act, 2013.

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

Other Audit Matters:

1. The Balance for sundry Debtors and Sundry Creditors as on 31st March, 2025 are subject to confirmation.

2. The company has not carried out the calculation of deferred tax during the year.

For A N SHAH & ASSOCIATES

Chartered Accountants

Firm Registration No.: 152559W

03 |P5§!

AkashShah * \WW-<5/ II

Proprietor //

Membership No.: 191340

UDIN: 25191340BMKNPU6246

Place: Mumbai

Date: 3^rd May, 2025

---

Mar 31, 2024

We have audited the accompanying standalone financial statements of SUNRISE INDUSTRIAL TRADERS LIMITED ("the
Company"), which comprise the Balance Sheet as at 31 March 2024, the Statement of Profit and Loss (including other
comprehensive Income), the Statement of cash flows and the Statement for changes in equity for the year then ended,
and a summary of the significant accounting policies and other explanatory information (herein after referred to as
"Standalone IND AS Financial Statements)

In our opinion and to the best of our information and according to the explanations given to us, 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 state of affairs of the Company as at 31 March 2024, the Profit
and total comprehensive Loss, changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the standalone financial statement in accordance with the Standards on Auditing (SAs)
specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further
described in the Auditor''s Responsibilities for the Audit of the 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 independence requirements that are relevant to our audit of the financial
statements under the provisions of the Act and the Rules made there under, 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 audit 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.

Description of Key Audit Matters as follows:-

The Key Audit Matters	How the matter was addressed in our Audit
a) Evaluation of Uncertain Tax Positions
The company has material uncertain tax positions including matters under disputes which involves significant judgement to determine the possible outcome of these disputes, Refer Note No. (24) of the financial statements	• We obtained details of ongoing tax assessments and demands for the previous years from management. • We discussed with appropriate senior management and evaluated management''s underlying key assumptions in estimating the tax provisions and; • Assessed management''s estimate to the possible outcome of the disputed cases.

Information Other than the Standalone Financial Statements and Auditor''s Report Thereon

The Company''s Board of Directors is responsible for the preparation of the other information. The other information
comprises the information included in the Management Discussion and Analysis, Board''s Report including Annexure
to Board''s Report, Business Responsibility Report, Corporate Governance and Shareholder''s Information, but does not
include the standalone financial statements and our auditor''s report thereon.

Our opinion on the standalone financial statements does not cover the other information and we do not express any
form of assurance or 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 during the course of our audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information;
we are required to report that fact. We have nothing to report in this regard.

Management''s Responsibility for the Standalone Financial Statements

The Company''s Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013
("the Act") with respect to the preparation of these Ind AS standalone financial statements that give a true and fair
view of the financial position, financial performance including other comprehensive income, cash flows and changes
in equity of the Company in accordance with the accounting principles generally accepted in India, including the Indian
Accounting Standards (Ind AS) specified under section 133 of the Act read with relevant rules issued there under.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the
Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities;
selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and
prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating
effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and
presentation of the standalone Ind AS financial statement 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, management is responsible for assessing the Company''s ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the company''s financial reporting process
Auditor''s Responsibility for the Audit of the Financial Statements

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

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

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

Obtain an understanding of internal financial controls 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 reasonable ness 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 event s 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 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 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 auditor''s report unless law or regulation precludes public disclosure about
the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our
report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest
benefits of such communication.

Report on other Legal and Regulatory Requirements

1. 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 (including other comprehensive income), change in
equity and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d) In our opinion, the aforesaid standalone financial statements comply with the Indian Accounting Standards
specified under Section 133 of the Act.

e) On the basis of the written representations received from the directors as on 31 March 2024, taken on record
by the Board of Directors, none of the directors is disqualified as on 31 March 2023 from being appointed as
a director in terms of Section 164 (2) of the Act.

f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and
the operative effectiveness of such controls, refer to our separate Report in "Annexure A". Our report
expresses an unmodified opinion on the adequacy and operating effectiveness of the Company''s internal
financial controls over financial reporting.

g) With respect to the other matters to be included in the Auditor''s Report in accordance with the requirements
of section 197(16) of the Act, as amended:

In our opinion and to the best of our information and according to the explanations given to us, the
remuneration paid by the Company to its directors during the year is in accordance with the provisions of
section 197 of the Act.

h) With respect to the other matters to be included in the Auditor''s Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014 as amended, 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 litigation on its financial position in its standalone Ind
AS financial statements refer Note No (25) to the financial statements.

(ii) The Company has made provision as required under applicable law or accounting standards, for material
foreseeable losses if any on long term contracts including derivative contracts.

(iii) There has been no delay in transferring amounts, required to be transferred to the Investor Education and
Protection Fund by the Company.

(iv) (a) The Management has represented that, to the best of its knowledge and belief, no funds (which are

material either individually or in the aggregate) have advanced or loaned or invested (either from
borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any
other person or entity, including foreign entity ("Intermediaries"), with the understanding, whether
recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or
invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company
("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries;

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

(c ) Based on the audit procedures that have been considered reasonable and appropriate the

circumstances nothing has come to our notice that has caused us to believe that the representations
under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain any material
misstatement.

(v) The company has not declared or paid any dividend during the year in contravention of the provisions
of section 123 of the Companies Act, 2013.

(vi) The reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 is applicable from
April 01,2023. Based on our examination which included test checks, the company has used accounting
software for maintaining its books of account, which have a feature of audit trail (edit log) facility and
the same has operated throughout the year for all relevant transactions recorded in the respective
software.

Further, for the periods where audit trail (edit log) facility was enabled and operated throughout the
year for the respective software, we did not come across any instance of the audit trail feature being
tampered with. As Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 for maintaining books
of account using accounting software which has a feature of recording audit trail (edit log) facility is
applicable to the Company with effect from April 01, 2023, and accordingly, reporting under Rule 11(g)
of Companies (Audit and Auditors) Rules, 2014 on preservation of audit trail as per statutory
requirements for record retention, is not applicable for the financial year ended March 31,2024.

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

Other Audit Matters:

1. The Balance for Sundry Creditors as on 31st March, 2024 are subject to confirmation.

2. The Financial statement of Sunrise Industrial Traders Limited for the year ended March 31, 2023
were audited by another auditor who expressed an unmodified opinion on those statements on
March 31, 2023.

3. The company has not accounted for deferred tax during the year.

For A N SHAH & ASSOCIATES
Chartered Accountants
FRN: 152559W

Akash Shah
Proprietor

Membership No: 191340
UDIN:24191340BKECKA5688

Place Mumbai
Dated: 2^nd May, 2024

---

Mar 31, 2015

We have audited the accompanying financial statements of SUNRISE INDUSTRIAL TRADERS 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 preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for the ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's 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) the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial controls 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. 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 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 31st March, 2015

b) in the case of Statement of Profit and Loss, of the profit for the year ended on that date; and

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

1. As required by the Companies (Auditor's Report) Order, 2015 issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act (hereinafter referred to the "Order"), and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

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

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

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

c. The Balance Sheet, Statement of Profit and Loss and 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 Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors), 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,

ii. In our opinion and as per the information and explanations provided to us, the Company has not entered into any long-term contracts including derivative contracts, requiring provision under applicable laws or accounting standards, for material foreseeable losses, and

iii. As at the year end, there were no amounts that were required to be transferred, to the Investor Education and Protection Fund by the Company.

ANNEXURE TO THE INDEPENDENT AUDITORS'REPORT:

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

1.1. The company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets.

1.2. All the fixed assets have been physically verified by the management at reasonable intervals and no material discrepancies were noticed on such verification.

2. The securities held as inventory have been verified from the statement of holding from the depository participants and by physical verification of the share certificates in case of inventory held in physical form, by the management during the year/at the year end. In our opinion, the frequency of verification is reasonable.

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

On the basis of our examination of the records of the Company relating to securities held as inventory, in our opinion, the Company is maintaining proper records of inventory. There are no material discrepancies noticed between the book records and the statement of holding provided by the depository participants, physically verified shares in physical form.

3. As informed to us, 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 Companies Act. Accordingly, the sub-clauses (a) and (b) are not applicable to the company.

4. In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the company and the nature of its business for the purchase/sale of shares and securities & fixed assets. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control system.

5. According to the information and explanations given to us, the Company has not accepted any deposits in terms of directives issued by Reserve Bank of India and the provisions of Sections 73 to 76 or any other relevant provisions of the Companies Act and the rules framed there under.

6. We have broadly reviewed the books of account maintained by the Company pursuant subsection (1) of Section 148 of the Companies Act, and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained.

7. The company is generally regular in depositing undisputed statutory dues including provident fund, employees state insurance, income tax, sales tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the appropriate authorities and we have been informed that there are no arrears of outstanding statutory dues as at the last day of the financial year under audit for a period of more than six months from the date they became payable.

7.2 Details of the particulars of dues of income-tax as at 31st March,2015 which have not been deposited on account of a disputes, are as follows:

7.3 There are no amounts payable in respect of investor education and protection fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and Rules made thereunder.

8. The Company has no accumulated losses at the end of the financial year under audit. The company has not incurred cash losses during the financial year covered by audit and in the immediately preceding financial year.

9. According to the information and explanations given to us, the Company has not defaulted in repayment of dues to a financial institution or bank.

10. 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, the terms and conditions whereof are prejudicial to the interest of the Company.

11. According to the information and explanations given to us, no term loans were obtained during the year under audit.

12. Based upon the audit procedures performed and according to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the year of our audit.

For R.A. RAJANI & Co. Firm Registration No.: 114606W Chartered Accountants

(R. A. RAJANI) Proprietor. M.No. 48441 Mumbai. 29th May,2015.

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Mar 31, 2014

Report on the Financial Statements

We have audited the accompanying financial statements of Sunrise Industrial Traders Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2014, 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 principles generally accepted in India including Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956 ("the Act") read with the General Circular 15/2013 dated 13th September,2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act,2013. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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 misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity''s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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

Opinion

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

a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2014;

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

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of Section 227(4A) 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, 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 Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in section 211(3C) of the Act,1956 read with the General Circular 15/2013 dated 13th September,2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act,2013.

e) On the basis of the written representations received from the directors as on March 31, 2014, 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 Section 274(1)(g) of the Companies Act.

Referred to in Paragraph 1 under the heading of "report on other legal and regulatory requirements" of our report of even date

1. This being an Investment Specified Company, this report includes matters stipulated in the above-mentioned order as far as applicable to this company.

2. In respect of its fixed assets:

a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets on the basis of available information.

b) As explained to us, all the fixed assets have been physically verified by the management in a phased periodical manner, which in our opinion is reasonable, having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such physical verification.

c) In our opinion, the Company has not disposed off a substantial part of its fixed assets during the year and the going concern status of the Company is not affected.

d) None of the Fixed Assets have been revalued by the company during the year.

3. In respect of the loans, secured or unsecured, granted or taken by the Company to / from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956:

a) The Company has not taken loans from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or from the companies under the same management as defined under sub-section (1B) of Section 370 of the Companies Act, 1956.

b) The Company has not granted any loans secured or unsecured to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or to the Companies under the same management as defined under sub-section (1B) of section 370 of the Companies Act, 1956.

4. The company has not granted any loans or advances in the nature of loans to any party.

5. In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase and sale of shares and securities and fixed assets .

6. In respect of the contracts or arrangements referred to in Section 301 of the Companies Act, 1956:

(a) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements that need to be entered in the register maintained under Section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts / arrangements entered in the Register maintained under section 301 of the Companies Act, 1956 and exceeding the value of Rs. 5,00,000 in respect of each party during the year have been made at prices which appear reasonable as per information available with the Company.

7. According to the information and explanations given to us, the Company has not accepted any deposit from the public. Therefore, the provisions of Clause (vi) of paragraph 4 of the Order are not applicable to the Company.

8. The Company does not have any internal audit system.

9. We are informed that the provision of Provident Fund and Employees State Insurance Act are not applicable to the Company

10. In respect of statutory dues:

a) According to the records of the Company, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income-Tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess, and other statutory dues have been generally regularly deposited with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at March 31, 2014 for a period of more than six months from the date of becoming payable.

b) The disputed statutory dues aggregating Rs.21,57,225/- that have not been deposited on account of disputed matters pending before appropriate authorities are as under:

Name of the Nature of Forum where dispute is Rs. Period to which it relates Statute Dues pending

Income Tax Commissioner 65,098/- Assessment Year 2007-08 (Appeals)- Mumbai

Income Tax Appellate 6,30,467/- Assessment Year 2009-10 The Income Tax Income Tax Tribunal Mumbai Act,1961

Income Tax Commissioner 9,55,320/- Assessment Year 2010-11 (Appeals)- Mumbai

Income Tax Commissioner 5,06,340/- Assessment Year 2011-12 (Appeals)- Mumbai

11. The Company does not have accumulated losses at the end of the financial year. The Company has not incurred cash losses during the financial year covered by the audit and in the immediately preceding financial year.

12. In our opinion and according to the explanations given to us and based on the information available, no loans and advances have been granted by the Company on the basis of security by way of pledge of shares, debentures and other securities.

13. In our opinion, the Company is not a chit fund / nidhi / mutual benefit fund / society. Therefore, the provisions of clause (xiii) of paragraph 4 of the Order are not applicable to the Company.

14. The Company has maintained proper records of the transactions and contracts in respect of dealing or trading in shares, securities, debentures and other investments and timely entries have been made therein. All shares, securities, debentures and other investments have been held by the Company in its own name.

15. The Company has not given guarantees for loans taken by Others from banks and financial institutions.

16. The Company has not raised any monies by way of public issues during the year.

17. On the basis of our examination of books of accounts and according to the information and explanation given to us there are no personal expenses charged to the Revenue Account for the year, other than those covered by contracted obligations or those in accordance with accepted business practice.

18. In our opinion and according to the information and explanations given to us, no material fraud on or by the Company has been noticed or reported during the year.

For R.A. RAJANI & Co.

Firm Registration No.: 114606W

Chartered Accountants

(R. A. RAJANI)

Proprietor.

M. No. 48441

Mumbai. 29th May,2014.

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Mar 31, 2013

We have audited the accompanying financial statements of Sunrise Industrial Traders 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

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 principles generally accepted in India including Accounting Standards referred to in Section 211(3C) 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 misstatements.

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

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

Opinion

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

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

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

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2003 ("the Order") issued by the Central Government of India in terms of Section 227(4A) 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, 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 Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in section 211(3C) of the Act;

e) On the basis of the written representations received from the directors as on March 31, 2013, 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 Section 274(1)(g) of the Act.

Annexure to Auditors'' Report

Referred to in Paragraph 1 under the heading of "report on other legal and regulatory requirements" of our report of even date

1. This being an Investment Specified Company, this report includes matters stipulated in the above. mentioned order as far as applicable to this company.

2. In respect of its fixed assets:

a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets on the basis of available information.

b) As explained to us, all the fixed assets have been physically verified by the management in a phased periodical manner, which in our opinion is reasonable, having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such physical verification.

c) In our opinion, the Company has not disposed off a substantial part of its fixed assets during the year and the going concern status of the Company is not affected.

d) None of the Fixed Assets have been revalued by the company during the year.

3. In respect of the loans, secured or unsecured, granted or taken by the Company to / from companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956:

a) The Company has not taken loans from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or from the companies under the same management as defined under sub.section (1B) of Section 370 of the Companies Act, 1956.

b) The Company has not granted any loans secured or unsecured to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or to the Companies under the same management as defined under sub.section (1B) of section 370 of the Companies Act, 1956.

4. The company has not granted any loans or advances in the nature of loans to any party.

5. In our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business for the purchase and sale of shares and securities and fixed assets .

6. In respect of the contracts or arrangements referred to in Section 301 of the Companies Act, 1956:

(a) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts or arrangements that need to be entered in the register maintained under Section 301 of the Companies Act, 1956 have been so entered.

(b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of contracts / arrangements entered in the Register maintained under section 301 of the Companies Act, 1956 and exceeding the value of Rs. 5,00,000 in respect of each party during the year have been made at prices which appear reasonable as per information available with the Company.

7. According to the information and explanations given to us, the Company has not accepted any deposit from the public. Therefore, the provisions of Clause (vi) of paragraph 4 of the Order are not applicable to the Company.

8. The Company does not have any internal audit system.

9. We are informed that the provision of Provident Fund and Employees State Insurance Act are not applicable to the Company

10. In respect of statutory dues:

a) According to the records of the Company, undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income.Tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess, and other statutory dues have been generally regularly deposited with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the aforesaid dues were outstanding as at March 31, 2013 for a period of more than six months from the date of becoming payable.

11.The Company does not have accumulated losses at the end of the financial year. The Company has not incurred cash losses during the financial year covered by the audit and in the immediately preceding financial year.

12. In our opinion and according to the explanations given to us and based on the information available, no loans and advances have been granted by the Company on the basis of security by way of pledge of shares, debentures and other securities.

13. In our opinion, the Company is not a chit fund / nidhi / mutual benefit fund / society. Therefore, the provisions of clause (xiii) of paragraph 4 of the Order are not applicable to the Company.

14. The Company has maintained proper records of the transactions and contracts in respect of dealing or trading in shares, securities, debentures and other investments and timely entries have been made therein. All shares, securities, debentures and other investments have been held by the Company in its own name.

15. The Company has not given guarantees for loans taken by Others from banks and financial institutions.

16. The Company has not raised any monies by way of public issues during the year.

17. On the basis of our examination of books of accounts and according to the information and explanation given to us there are no personal expenses charged to the Revenue Account for the year, other than those covered by contracted obligations or those in accordance with accepted business practice.

18. In our opinion and according to the information and explanations given to us, no material fraud on or by the Company has been noticed or reported during the year.

For R.A. RAJANI & Co.

Firm Registration No.: 114606W

Chartered Accountants

(R. A. RAJANI)

Proprietor

M.No. 48441

Mumbai. 30th May,2013.

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Mar 31, 2012

We have audited the attached Balance Sheet of Sunrise Industrial Traders Limited as at 31st March 2012 and the Profit & Loss Account for the year ended on 31st March 2012 annexed thereto & Cash Flow Statement for the year ended on that date, which we have signed under reference to this report. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and 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.

We report as follows:

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

2. 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 such books.

3. The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with the Books of Accounts.

4. In our opinion, the Balance Sheet and the Profit & Loss Account dealt with by the report are in compliance with the accounting standard referred to in section 211 (3C) of the Companies Act, 1956 and are in agreement with the books of account.

5. On the basis of written representation received from the Directors as on 31st March 2012 and taken on record by the Board of Directors, we report that none of the Directors are disqualified as on 31st March 2012 from being appointed as a Director in terms of clause (g) of Sub-section (1) of Section 274 of the Companies Act, 1956.

6. In our opinion and to the best of our information and according to the explanations given to us, the accounts read with the notes thereon give the information required by the Companies Act, 1956:

- In the case of the Balance Sheet of the state of affairs of the company as at 31st March 2012.

- In the case of the Profit & Loss Account of the profit of the company for the year ended on 31/3/2012.

- In the case of Cash Flow Statement, of the cash flows for the year ended on that date.

As required by the Companies (Auditor's Reports) Order, 2003 issued by the Central Government of India in terms of sub - section (4A) of 227 of the Companies Act, 1956, we considered appropriate and according to the information and explanations given to us we report that:

1. This being an Investment Specified Company, this report includes matters stipulated in the above-mentioned order as far as they are applicable to this company.

2. The Company has maintained proper records showing full particulars, including quantitative details and situation of Fixed Assets. During the year the management has carried out physical verification of these assets and no discrepancy was noticed on such verification.

3. None of the Fixed Assets have been revalued by the company during the year.

4. The Company has not taken loans from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or from the companies under the same management as defined under sub-section (1B) of Section 370 of the Companies Act, 1956.

5. The Company has not granted any loans secured or unsecured to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or to the Companies under the same management as defined under sub-section (1B) of section 370 of the Companies Act, 1956.

6. The company has not granted any loans or advances in the nature of loans to any party.

7. In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchase and sale of shares and securities.

8. In our opinion and according to the information and explanation given to us the purchase of goods and materials and sale of goods, materials and services made in pursuance of contracts or arrangement entered in the register maintained u/s 301 of the Companies Act, 1956 and aggregating during the year to Rs.500000/- or more in the value, in respect of each party have been made at prices for such goods materials or services at which transactions for similar goods or services have been made with other parties.

9. The Company has not accepted any deposits from the public within the meaning of Section 58-A, 58-AA, or any other relevant provisions of the Companies Act, 1956 and the rules framed there under.

10. The Company does not have any internal audit system.

11. The Company has not so far established any Provident Fund scheme for its employees, as it is not applicable to them.

12. According to the records of the company there were no undisputed amounts payable in respect of income tax, wealth tax, service tax, sales tax, custom duty, excise duty outstanding as at 31st March 2012 for the period of more than 6 months from the date they become payable.

13. On the basis of our examination of books of accounts and according to the information and explanation given to us there are no personal expenses charged to the Revenue Account for the year, other than those covered by contracted obligations or those in accordance with accepted business practice.

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

15. The Company has maintained proper records of transactions and contracts of investment/trading in shares, debentures and other investments and timely entries have been made therein. The shares and debentures acquired, by the Company are held by the Company in its own name.

16. In our opinion the provisions of paragraph 4(I) C, 4(II), 4(III), 4(X), 4(XI), 4(XIII), 4(XV), 4(XVI), 4(VII), 4(VIII), 4(XIX), 4(XX), 4(XXI) of the order are not applicable to the company for the year under report.

For: R. A. RAJANI & Co.

Firm Registration No.:114606W

Chartered Accountants

Place: MUMBAI (R. A. RAJANI)

Dated: 28-05-2012 Proprietor

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Mar 31, 2011

We have audited the attached Balance Sheet of Sunrise Industrial Traders Limited as at 31st March 2011 and the Profit & Loss Account for the year ended on 31st March 2011 annexed thereto & Cash Flow Statement for the year ended on that date, which we have signed under reference to this report. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and 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.

We report as follows:

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

2. 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 such books.

3. The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with the Books of Accounts.

4. In our opinion, the Balance Sheet and the Profit & Loss Account dealt with by the report are in compliance with the accounting standard referred to in section 211 (3C) of the Companies Act, 1956 and are in agreement with the books of account.

5. On the basis of written representation received from the Directors as on 31st March 2011 and taken on record by the Board of Directors, we report that none of the Directors are disqualified as on 31st March 2011 from being appointed as a Director in terms of clause (g) of Sub-section (1) of Section 274 of the Companies Act, 1956.

6. In our opinion and to the best of our information and according to the explanations given to us, the accounts read with the notes thereon give the information required by the Companies Act, 1956:

- In the case of the Balance Sheet of the state of affairs of the company as at 31st March 2011.

- In the case of the Profit & Loss Account of the profit of the company for the year ended on 31/3/2011.

- In the case of Cash Flow Statement, of the cash flows for the year ended on that date.

As required by the Companies (Auditor's Reports) Order, 2003 issued by the Central Government of India in terms of sub - section (4A) of 227 of the Companies Act, 1956, we considered appropriate and according to the information and explanations given to us we report that:

1. This being an Investment Specified Company, this report includes matters stipulated in the above-mentioned order as far as they are applicable to this company.

2. The Company has maintained proper records showing full particulars, including quantitative details and situation of Fixed Assets. During the year the management has carried out physical verification of these assets and no discrepancy was noticed on such verification.

3. None of the Fixed Assets have been revalued by the company during the year.

4. The Company has not taken loans from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or from the companies under the same management as defined under sub-section (1B) of Section 370 of the Companies Act, 1956.

5. The Company has not granted any loans secured or unsecured to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or to the Companies under the same management as defined under sub-section (1B) of section 370 of the Companies Act, 1956.

6. The company has not granted any loans or advances in the nature of loans to any party.

7. In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchase and sale of shares and securities.

8. In our opinion and according to the information and explanation given to us the purchase of goods and materials and sale of goods, materials and services made in pursuance of contracts or arrangement entered in the register maintained u/s 301 of the Companies Act, 1956 and aggregating during the year to Rs.500000/- or more in the value, in respect of each party have been made at prices for such goods materials or services at which transactions for similar goods or services have been made with other parties.

9. The Company has not accepted any deposits from the public within the meaning of Section 58-A, 58-AA, or any other relevant provisions of the Companies Act, 1956 and the rules framed there under.

10. The Company does not have any internal audit system.

11. The Company has not so far established any Provident Fund scheme for its employees, as it is not applicable to them.

12. According to the records of the company there were no undisputed amounts payable in respect of income tax, wealth tax, service tax, sales tax, custom duty, excise duty outstanding as at 31st March 2011 for the period of more than 6 months from the date they become payable.

13. On the basis of our examination of books of accounts and according to the information and explanation given to us there are no personal expenses charged to the Revenue Account for the year, other than those covered by contracted obligations or those in accordance with accepted business practice.

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

15. The Company has maintained proper records of transactions and contracts of investment/trading in shares, debentures and other investments and timely entries have been made therein. The shares and debentures acquired, by the Company are held by the Company in its own name.

16. In our opinion the provisions of paragraph 4(I) C, 4(II), 4(III), 4(X), 4(XI), 4(XIII), 4(XV), 4(XVI), 4(VII), 4(VIII), 4(XIX), 4(XX), 4(XXI) of the order are not applicable to the company for the year under report.

For: R. A. RAJANI & Co. Firm Registration No.:114606W Chartered Accountants

(R. A. RAJANI) Proprietor

Place: MUMBAI Dated: 28-05-2011

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Mar 31, 2010

We have audited the attached Balance Sheet of Sunrise Industrial Traders Limited as at 31st March 2010 and the Profit & Loss Account for the year ended on 31st March 2010 annexed thereto & Cash Flow Statement for the year ended on that date, which we have signed under reference to this report. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting 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.

We report as follows:

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

2. 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 such books.

3. The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with the Books of Accounts.

4. In our opinion, the Balance Sheet and the Profit & Loss Account dealt with by the report are in compliance with the accounting standard referred to in section 211 (3C) of the Companies Act, 1956 and are in agreement with the books of account.

5. On the basis of written representation received from the Directors as on 31st March 2010 and taken on record by the Board of Directors, we report that none of the Directors are disqualified as on 31st March 2010 from being appointed as a Director in terms of clause (g) of Sub-section (1) of Section 274 of the Companies Act, 1956.

6. In our opinion and to the best of our information and according to the explanations given to us, the accounts read with the notes thereon give the information required by the Companies Act, 1956:

- In the case of the Balance Sheet of the state of affairs of the company as at 31st March 2010.

- In the case of the Profit & Loss Account of the profit of the company for the year ended on 31/3/2010.

- In the case of Cash Flow Statement, of the cash flows for the year ended on that date.

As required by the Companies (Auditors Reports) Order, 2003 issued by the Central Government of India in terms of sub - section (4A) of 227 of the Companies Act, 1956, we considered appropriate and according to the information and explanations given to us we report that:

1. This being an Investment Specified Company, this report includes matters stipulated in the above-mentioned order as far as they are applicable to this company.

2. The Company has maintained proper records showing full particulars, including quantitative details and situation of Fixed Assets. During the year the management has carried out physical verification of these assets and no discrepancy was noticed on such verification.

3. None of the Fixed Assets have been revalued by the company during the year.

4. The Company has not taken loans from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or from the companies under the same management as defined under sub-section (IB) of Section 370 of the Companies Act, 1956.

5. The Company has not granted any loans secured or unsecured to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 and/or to the Companies under the same management as defined under sub-section (IB) of section 370 of the Companies Act, 1956.

6. The company has not granted any loans or advances in the nature of loans to any party.

7. In our opinion and according to the information and explanation given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchase and sale of shares and securities.

8. In our opinion and according to the information and explanation given to us the purchase of goods and materials and sale of goods, materials and services made in pursuance of contracts or arrangement entered in the register maintained u/s 301 of the Companies Act, 1956 and aggregating during the year to Rs.500000/- or more in the value, in respect of each party have been made at prices for such goods materials or services at which transactions for similar goods or services have been made with other parties.

9. The Company has not accepted any deposits from the public within the meaning of Section 58-A, 58-AA, or any other relevant provisions of the Companies Act, 1956 and the rules framed there under.

10. The Company does not have any internal audit system.

11. The Company has not so far established any Provident Fund scheme for its employees, as it is not applicable to them.

12. According to the records of the company there were no undisputed amounts payable in respect of income tax, wealth tax, service tax, sales tax, custom duty, excise duty outstanding as at 31st March 2010 for the period of more than 6 months from the date they become payable.

13. On the basis of our examination of books of accounts and according to the information and explanation given to us there are no personal expenses charged to the Revenue Account for the year, other than those covered by contracted obligations or those in accordance with accepted business practice.

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

15. The Company has maintained proper records of transactions and contracts of investment/trading in shares, debentures and other investments and timely entries have been made therein. The shares and debentures acquired, by the Company are held by the Company in its own name.

16. In our opinion the provisions of paragraph 4(1) C, 4(11), 4(111), 4(X), 4(XI), 4(XI1I), 4(XV), 4(XVI), 4(VII), 4(VIII), 4(XIX), 4(XX), 4(XXI) of the order are not applicable to the company for the year under report.

For: R. A. RAJANI & Co.

Chartered Accountants

Place: MUMBAI (R A. RAJANI)

Dated: 27-05-2010 Proprietor