Chokhani Global Express Ltd.की ऑडीटर रिपोर्ट

Mar 31, 2012

1. We have audited the attached Balance Sheet of M/s. Chokhani Global Express Ltd. as at 31st March 2012 and Profit & Lost Account and Cash Flow Statement of the company for the year ended on that date annexed thereto. These financial statements are the responsibility of the company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the 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 the 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 (Auditors' Report) Order 2003, issued by the Central Government of India in terms of section 227(4A) of the Companies Act, 1956, We enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

4. Further to our comments in the Annexure referred to 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 accounts as required by law, have been kept by the company so far as appears from our examination of those books.

(iii) The Balance Sheet, 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 and Cash Flow Statement, dealt with by this report comply with the accounting standard referred to in section 211 (3C) of the Companies Act, 1956 to the extent applicable.

(v) On the basis of the written representations received from the Directors, as on 31st March, 2012 and taken the same on record by the Board of Directors, we report that none of the directors of the company is disqualified as on 31st March 2012 from being appointed as director of the company 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 explanations given to us, subject to reference to be drawn to Note No.4C and read with other notes thereon in attached Notes to the Financial Statements, the said accounts give the information required by the companies act, 1956 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 Balance Sheet, of the state of the affairs of the company as at 31st March 2012,

(b) In the case of Profit & Loss Account, of the loss of the company for the year ended on that date, and

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



ANNEXURE TO AUDITORS' REPORT

(Referred to in Paragraph 3 of our Report of even date)

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

(b) As informed to us, the fixed assets have been physically verified by the management at reasonable intervals. No material discrepancies were noticed on such verification.

(c) Since there is no disposal of fixed assets during the year, the preparation of financial statements on a going concern basis is not affected on this account.

2. There is no stock of stores, spare parts and materials or finished goods.

3. As informed, the company has not granted any loan, secured or unsecured to the companies, firms and other parties covered in the register maintained under section 301 of the companies Act, 1956, nor the company has taken any loan, secured or unsecured from companies, firms or other parties covered under section 301 of the Companies Act, 1956.

4. In our opinion and according to the information and explanations given to us, since there was neither any purchase of inventory and fixed assets nor any sale of goods, during the year, there are adequate internal control procedures commensurate with the size of the company and with the nature of its business.

5. We are informed that there are no transactions during the year that need to be entered into a register in pursuance of section 301 of the Companies Act, 1956.

6. The company has not accepted deposits from public within the meaning of section 58A, 58AA or any other provisions of the Companies Act 1956 and the rules framed thereunder.

7. In our opinion and according the information and explanations given to us, there is no internal audit system due to the present status of the business.

8. As informed to us, the company is not required to maintain any cost records as prescribed by the central government under section 209(1) (d) of the companies act, 1956.

9. As informed to us and according to the records of the company as examined by us, the company has been regular in depositing undisputed statutory dues including provident fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and other statutory dues as applicable to it with the appropriate authorities. According to the information and explanations given to us, there are no undisputed amounts payable in respect of the aforesaid statutory dues, which have remained outstanding as at 31st March, 2012 for a period of more than six months from the date they become payable.

According to the information and explanations given to us, there are no disputed statutory dues which have not been deposited on account of matters pending before the appropriate authorities.

10. In our opinion, the accumulated losses of the company are more than fifty percent of its net worth and has earned cash profits during the current financial year and also in the immediately preceding financial year.

11. In our opinion and according to the information and explanations given to us, the company has not borrowed any funds from banks, financial institutions and by issue of debentures.

12. According to informations and explanations given to us, the company has not granted any loans and advances to any party during the year 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 or a nidhi mutual benefit fund/society.

14. As informed, the company is not dealing in or trading in shares, securities, debentures and other investments.

15. According to the information provided to us, the company has not given any guarantee for loans taken by others from banks and/or financial institutions.

16. In our opinion, no term loans have been raised by the company.

17. According to the information and explanations given to us and on an overall examination of the Balance Sheet and Cash Flow Statement of the company, we report that no funds raised on short-term basis that have been used for long-term investment.

18. According to the information and explanations given to us, the company has not made any preferential allotment of shares during the year.

19. According to the information and explanations given to us, during the period covered by our audit report, the company has not issued any debentures and not created any security or charge in respect thereof.

20. The company has not raised any money through public issues during the year covered by our audit report.

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



For I.K. HARLALKA & CO. Firm Regn. No. 009223N CHARTERED ACCOUNTANTS

I.K. HARLALKA PROPRIETOR Membership No. 013204

Place: New Delhi Date : 30.04.2012

---

Mar 31, 2010

1. We have audited the attached Balance Sheet of M/s. Chokhani Global Express Ltd. as at 31st March 2010 and Profit & Lost Account and Cash Flow Statement of the company for the year ended on that date annexed thereto. These financial statements are the responsibility of the companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the 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 the 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 (Auditors Report) Order 2003, issued by the Central Government of India in terms of section 227(4A) of the Companies Act, 1956, We enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

4. Further to our comments in the Annexure referred to 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 accounts as required by law, have been kept by • the company so far as appears from our examination of those books.

(iii) The Balance Sheet, 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 and Cash Flow Statement, dealt with by this report comply with the accounting standard referred to in section 211 (3C) of the Companies Act, 1956 to the extent applicable.

(v) On the basis of the written representations received from the Directors, as on 31st March, 2010 and taken the same on record by the Board of Directors, we report that none of the directors of the company is disqualified as on 31st March 2010 from being appointed as director of the company 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 explanations given to us, subject to reference to be drawn to Note No.4 and 6 and read with other notes thereon in Schedule-8 of Notes to the Accounts, the said accounts give the information required by the Companies Act, 1956 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 Balance Sheet, of the state of the affairs of the company as at 31st March 2010,

(b) In the case of Profit & Loss Account, of the loss of the company for the year ended on that date, and

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





ANNEXURE TO AUDITORS REPORT

(Referred to in Paragraph 3 of our Report of even date)

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

(b) As informed to us, the fixed assets have been physically verified by the management at reasonable intervals. No material discrepancies - were noticed on such verification.

(c) Since there is no disposal of fixed assets during the year, the preparation of financial statements on a going concern basis is not affected on this account.

2. There is no stock of stores, spare parts and materials or finished goods.

3. As informed, the company has not granted any loan, secured or unsecured to the companies, firms and other parties covered in the register maintained under section 301 of the companies Act, 1956, nor the company has taken any loan, secured or unsecured from companies, firms or other

parties covered under section 301 of the Companies Act, 1956.

4. In our opinion and according to the information and explanations given to us, since there was neither any purchase of inventory and fixed assets nor any sale of goods, during the year, there are adequate internal control procedures commensurate with the size of the company and with the nature of its business.

5. We are informed that there are no transactions during the year that need to be entered into a register in pursuance of section 301 of the Companies Act, 1956.

6. The company has not accepted deposits from public within the meaning of section 58A, 58AA or any other provisions of the Companies Act, 1956 and the rules framed thereunder.

7. In our opinion and according the information and explanations given to us, there is no internal audit system due to the present status of the business.

8. As informed to us, the company is not required to maintain any cost records as prescribed by the central government under section 209(1) (d) of the Companies Act, 1956.

9. As informed to us and according to the records of the company as examined by us, the company has been regular in depositing undisputed statutory dues including provident fund, Investor Education and Protection Fund, Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess and other statutory dues applicable to it with the appropriate authorities. According to the information and explanations given to us, there are no undisputed amounts payable in respect of the aforesaid statutory dues, which have remained outstanding as at 31st March,

2010 for a period of more than six months from the date they become payable.

According to the information and explanations given to us, there are no disputed statutory dues which have not been deposited on account of matters pending before the appropriate authorities.

10. In our opinion, the accumulated losses of the company are more than fifty percent of its net worth and has earned cash profit during the current financial year. Cash loss was incurred in the immediately preceding financial year.

11. In our opinion and according to the information and explanations given to us, the company has not borrowed any funds from banks, financial institutions and by issue of debentures.

12. According to informations and explanations given to us, the company has not granted any loans and advances to any party during the year 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 or a nidhi mutual benefit fund/society.

14. As informed, the company is not dealing in or trading in shares, securities, debentures and other investments.

15. According to the information provided to us, the company has not given any guarantee for loans taken by others from banks and/or financial institutions.

16. In our opinion, no term loans have been raised by the company.

17. According to the information and explanations given to us and on an overall examination of the Balance Sheet and Cash Flow Statement of the company, we report that no fun-s raised on short-term basis that have been used for long-term investment.

18. According to the information and explanations given to us, the company has not made any preferential allotment of shares during the year.

19. According to the information and explanations given to us, during the period covered by our audit report, the company has not issued any debentures and not created any security or charge in respect thereof.

20. The company has not raised any money through public issues during the year covered by our audit report.

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



for I.K. HARLALKA & CO.

Firm Regn.No.009223N

CHARTERED ACCOUNTANTS



Place: New Delhi I.K. HARLALKA

Date : 30th July 2010 PROPRIETOR

Membership No. 013204