PB Global Ltd.की ऑडीटर रिपोर्ट

Mar 31, 2024

We have audited the accompanying standalone financial statements of P B GLOBAL LIMITED (the "Company"), which comprise
the Balance Sheet as at March 31, 2024, the Statement of Profit and Loss (including Other Comprehensive Income), the
Statement of Changes in Equity and the Statement of Cash Flows ended on that date, and a summary of significant accounting
policies and other explanatory information (hereinafter referred to as the "standalone 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, ("IndAS") and other accounting principles generally
accepted in India, of the state of affairs of the Company as at March 31, 2024, the Loss and total comprehensive income,
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 statements in accordance with the Standards on Auditing ("SA" s) specified
under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditors
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 ethical requirements that are relevant to our audit of the standalone financial statements under the provisions of the Act
and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements
and the ICAI''s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis
for our audit opinion on the standalone financial statements.

On the basis of information received and audit evidence obtained,

1) We are of the opinion that provision for employee benefit expenses is required to be made. As required by Ind AS 19,
"Employee Benefits" the Company is not making any provisions for the Employee benefit accruing during the year. The
Company has a policy to account for the same on Cash basis.

2) We also observed that Company has not filled the Income tax return for FY 2019-20 as per Income Tax Act, 1961
U/s.139(1)

Management''s Responsibilities for the Standalone Financial Statements

The Company''s Board of Directors is responsible for the matters stated in section 134 (5) of the Act with respect to the
preparation of these standalone financial statements that give a true and fair view of the financial position, financial
performance, including other comprehensive income, changes in equity and cash flows of the Company in accordance with the
Ind AS and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing
and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments
and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial
controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the
preparation and presentation of the standalone financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.

In preparing the standalone financial statements, 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 responsible for overseeing the Company''s financial reporting process.

Auditor''s Responsibilities for the Audit of the Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the standalone financial statements as a whole are free from

material misstatement, whether due to fraud or error, and to issue an 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 control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances. Undersection143(3)(i) of the Act, we are also responsible for expressing our opinion
on whether the Company has adequate internal financial controls system in place and the operating effectiveness of
such controls.

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

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

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

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

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

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

From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the standalone financial statements of the current period and are therefore the key audit matters.
We describe these matters in our 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.

Emphasis of Matter

We draw the attention towards the followings

We bring to the attention of the users that the audit of the financial statements has been performed On the basis of data

provided by the management. in the aforesaid conditions.

Creditors, Debtor, Loans and advances are subject to confirmations from the respective parties.

Our opinion is not qualified in respect of the above.

Further, the turnover of the company is inclusive of the branch transfer
Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2020 ("the Order") issued by the Central Government of India in
terms of section 143(11) of the Act, we give in the Annexure A, a statement on the matters specified in the paragraph 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 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, the statement of cash flows and the statement of changes in
equity dealt with by this Report are in agreement with the books of account;

D. in our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section
133 of the Act read with relevant rule issued thereunder;

E. on the basis of the written representations received from the directors as on 31 March 2023 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
operating effectiveness of such controls, refer to our separate report in "Annexure B"; and

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

i. the Company has not disclosed the impact of pending litigations on its financial position in its financial
statements;

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

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

For Jain Vinay & Associates

(Chartered Accountants)

SD/-

Vishnu Kumar Sodani
(Partner)

M. No: 403919

UDIN : 24403919BKCKPL3344
Place: Mumbai
Date: 24^th May, 2024

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Mar 31, 2012

We have audited the attached Balance Sheet of PESTICIDES AND BREWERS LIMITED as of 319 March, 2012 and the Statement of Profit & Loss Account and the Cadi 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

We have 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 misstatements. An audit includes examining, on a. test basis, evidence supporting die amounts 3nd disclosures in financial statements. An audit also includes assessing the accounting principles used and significant estimates by die management, as well as evaluating die overall financial statement presentation. We believe that cur audit provides a reasonable basis for our opinion.

We report that

1. As required by the companies (Auditor's Report) order, 2003 issued by die company Law Board in terms of section 227 (4A) of tlje Companies Act, 1956, and on the basis of such check as we considered necessary and as per the information and explanations given to us, we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said order

2. Further to our comments in die Annexure referred to in paragraphs 1 above, we report that:

a) Subject to Note No. 11 regarding non- availability of the particulars of investments, we have obtained all the information and explanation, which to the besl of our knowledge and belief were necessary for the purpose of our audit,

b) The company does not provide for accruing liability for gratuity the amount of which is not material, but charges in the year of payment Subject to die same, in our opinion, proper books of accounts, as required by law have been kept by the company so far as it appears from oor examination of the books.

c) The Balance Sheet and Statement Profit and Loss dealt with by this report are in agreement with die books of account

d) In our opinion, the Balanced Sheet, the statement of Profit and Loss and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in Sub Section (3C) of Section 211 of die Companies Act 1956 except, that provision for gratuity and leave encashment and certain disclosure as required under Accounting Standard IS (AS-15) "Employees Benefits” have not been made.

e) On the basis of representation made by Directors of the company and taken on record by the Board of Directors, none of the directors of die company are disqualified from being appointed as directors of the company under clause (g) of sub-section (l)of section 274 of the Companies Act, 1956.

f) In pur opinion and to the best of our knowledge and according to the information and explanations given to us, (he accounts read with other notes thereon and subjects to:

i). Note No. 25.8(d), regarding non-provision of doubtful debts aggregating to Rs.3,335,734/- and Note No.25.7 regarding non provision of accruing liability in respect of gratuity and leave salary, the amounts which had not been ascertained and to that extent profit for the year is overstated and consequent overstatement of current assets and understatement of liabilities,

ii) Note No.25.5 regarding non- confirmation of certain balances, and other notes 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 principle generally accepted in India.

(a). In tfye case of Balance Sheet of the state of affairs of the company as at 31* March, 2012;

(b). In tlie case of the statement Profit and Loss, of the profit for the year ended on the date; and

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

Annexure to Auditor's Report Referred to in Paragraph 1 of oar report of even date

1. In respect of its fixed assets:

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

B.We a*e informed that the company conducts physical verification of all the fixed assets in a phased manner. Accordingly, some of the fixed assets have been so verified during the year. However the Company has not physically verified fixed assets having aggregate book value of Rs. 78,835/- at its Kolkata branch In our opinion, having regards to the size of the company and die nature of its fixed assets, the frequency of conducting physical verification of the fixed assets is reasonable. No material discrepancies were noticed on such physical verification.

C.During the year, the company has not disposed off substantial part of its fixed assets and therefore, the question of affecting die going concern' status of the company does not arise.

2. In respect of its inventories:

(a)We fe informed that the inventories have been physically verified by the management at reasonable intervals.

(b)In our opinion and according to the information and explanations give to us, the procedure of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

(c)The company has maintained proper records of inventories. As explained to us, the discrepancies noticed upon physical verification of inventories were not imperial as compared to die bodes records and have been properly dealt with in the books of account

3. The company has not granted or taken any loan secured or unsecured from any company, firm or other parties listed in the register maintained under section 301 of the companies Act, 1956.

4. 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 for the purpose of inventory and fixed assets and for the sale of goods. During the course of our audit, we have not observed any major weaknesses in internal controls.

5.1 As per the information and explanations given to us and records produce before us, the transactions that need to be entered in the register in pursuance of section 301 of the companies Act, 1956, have been so entered.

5.2 Each of this transactions as entered into register in pursuance of section 301 of die companies Act, 1956, have been made at the price which are reasonable having regards to prevailing market price at that relevant time.

6. The Company has not accepted any deposits from public.

7. The Company did not have internal audit system during the year. '

8. The Central Government has not prescribed maintenance of cost records under section 209 (1) (d) of Companies Act, 1956 in respect of any of the products of the company.

9. In respect of statutory dues:

a. Company is generally regular in depositing the statutory dues and there are no undisputed amounts payable in respect t of income tax, wealth tax, custom duty and excise duty, which were due for more than six months from the date they became payable.

b. Following disputed liabilities remains unpaid:

Nature of Dues Amount Rs./Lacs Period Forum where dispute is pending

i) Water Charges 7.31 Past Years Thane Municipal Corporation

10. The Company does not have any accumulated losses at the year end of die financial year and it has not incurred any cash loss in the current or in the immediately preceding financial year.

11.1 The company has not defaulted in repayment of its (hies to the bank.

11.2 The company has no dues payable to financial institution and debenture holders.

12 In our opinion and according to the information and explanations given to us, 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 and therefore, clause 4(xii) of the order is not applicable.

13 In our opinion, the Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, clause 4(xiii) of the Oder is not applicable.

14 The Company is not dealing or trading in shares, securities debentures and other investments. Therefore, Clause 4(xiv) of the Order is not applicable.

15 The Company has not given guarantee for loans taken by others from banks or financial institution and therefore, clause 4(xv) of the order is not applicable.

16 The Company has not taken any terms loans and therefore, Clause 4(xvi) of the Order is not applicable.

17 According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company ,we are of the opinion that the Company has not utilized funds raised on short terms basis for long term investment and vice versa

18 The company has not made preferential allotment of share to parties and companies covered in the register maintained under section 301 of the companies act, 1956 and therefore, clause 4(xvi) of the order is not applicable.

19 The Company has not issued any debentures and hence, Clause (xix) of die Order is not applicable.

20 The company has not raised any money by way of public issue during the year and therefore, clause 4(xx) of the order is not applicable

21 In our opinion and according to the information and explanations given to us, no fraud on or by the Company has not been noticed or reported during the year.

For M.APARIKH & Co.

CHARATERED ACCOUNTANTS

MUMBAI,

DATE: 25/8/2012 NAME: AJIT C. SHAH .

PARTNER MEMBERSHIP NO. 13097

ICA1 Registration NO.107556W

---

Mar 31, 2011

We have audited the attached Balance Sheet of PESTICIDES AND BREWERS LIMITED as of 31st March, 2011 and the Profit & Loss Account and the 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

We have conducted our audit in accordance with Auditing Standards geneially 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 misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in 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 mat our audit provides a reasonable basis for our opinion.

We report that:

1. As required by the companies (Auditor's Report) order, 2003 issued by the company Law Board in terms of section 227 (4A) of the Companies Act, 1956, and on the basis of such check as we considered necessary and as per the information and explanation given to us, we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said order

2. Further to our comments in the Annexure referred to in paragraphs 1 above, we report that

a) Subject to Note in schedule 6 regarding non- availability of the particulars of investments, we have obtained all the information and explanation, which to the best of our Knowledge and belief were necessary for the purpose of our audit

b) The company does not provide for gratuity the amount of which is not material but charges in the year of payment Subject to the same, in our opinion, proper books of accounts, as required by law have been Kept by the company so far as it appears from our examination of the books.

c) The Balance Sheet and Profit and Loss Account dealt with by this report are agreement with the books of account.

d) In our opinion the Balanced Sheet Profit and Loss Account and Casf flow Statement dealt with by this report comply with the Accounting Standards referred to in Sub Section (3C) of Section 211 of the Companies Act 1956 except that provision for gratuity and leave encashment and certain disclosure as required under Accounting Standard 15 (AS-15) "Employees Benefits''have not been made.

e) on the basis of representation Made by Directors of the company and taken on records by the Board of Directors,none of the directors of the company are disqualified from being appointed as directors of the company under clause (g) of sub- section (1) of section 274 of the Companies Act 1956.

f) In our opinion and to the best of our knowledge and according to the information and explanations given to us, the accounts read with other notes thereon and subjects to:

a). Note No.1 (d) in schedule 18-B, regarding non- provision of doubtful debts aggregating to Rs. 1,15,45,610 and note No.6 in schedule 18-B regarding non provision of accruing liability in respects of gratuity and leave salary, the amounts which had not been ascertained to the extent consequent over-statement of the profit for the year

b) Note No.3 in Schedule 18-B regarding non- confirmation of certain balances and other note give the information required by the companies Act 1956 in them manner so required and give a true and fair view, in conformity with the accounting principle generally accepted in India.

(a). In the case of Balance Sheet of the sate of affairs of the company as at 31st March, 2011;

(b). In the case of the Profit and Loss Account of the profit of the company for the year ended on the date; and

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

Annexure to Auditor's Report Referred to in Paragraph 1 of our report of even date

1. In respect of its fixed assets:

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

B. We are informed that the company conducts physical verification of all the fixed assets in a phased manner.Accordingly, some of the fixed assets have been so verified during the year. In our opinion, having regard told size of the company and the nature of its fixed assets, the frequency of conducting physical verification of the fixed assets is reasonable. No material discrepancies were noticed on such physical verification.

C .During the year, the company has not disposed off substantial part of its fixed assets and therefore, the question of affecting the going concern status of die company does not arise.

2. In respect of its inventories:

(a)We are informed that the inventories have been physically verified by the management at reasonable intervals.

(b)In our opinion and according to the information and explanations give to us, the procedure of physical verification of inventories followed by the management are reasonable and adequate in relation to foe size of the company and foe nature of its business.

(c)The company has maintained proper records of inventories. As explained to us, the discrepancies noticed upon physical verification of inventories were not material as compared to the books records and have been properly dealt with in the books of account.

3. The company has not granted or taken any loan secured or unsecured from any company, firm or other parties listed in the register maintained under section 301 of the companies Act, 1956.

4. In our opinion and according to the information and explanation given to us and subject to what is stated in note no.l 1 in Schedule 18.B, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purpose of inventory and fixed assets and for the sale of goods. During the course of our audit, we have not observed any major weaknesses in internal controls.

5.1 As per the information and explanation given to us and records produce before us, the transactions that need to be entered in the register in pursuance of section 301 of the companies Act, 1956, have been so entered.

5.2 Each of this transactions as entered into register in pursuance of section 301 of the companies Act, 1956, have been made at the price which are reasonable having regards to prevailing market price at that relevant time.

6. The Company has not accepted any deposits from public.

7. The Company did not have internal audit system during the year.

8. The Central Government has not prescribed maintenance of cost records under section 209 (1) (d) of Companies Act, 1956 in respect of any of the products of the company.

9. In respect of statutory dues:

a. Company is generally regular in depositing the statutory dues and there are no undisputed amounts payable in respect of income tax, wealth tax, custom duty and excise duty, which were due for more than six months from the date they became payable.

b. The company has a following disputed liabilities remaining unpaid as stated below:

Nature of Dues Amount Period Forum where dispute Rs. /Lacs is pending

i) Water Charges 7.31 Past Years Thane Municipal

Corporation

10. The company has been register for a period of not less than five years and its accumulated losses at the end of financial year are less than fifty percent of its net worth. It has earned cash Profit in the current financial year and in the financial year immediately preceding such financial year also.

11.1 The company has not defaulted in repayment of dues to the bank.

11.2 The company has no dues payable to financial institution and debenture holders.

12. In our opinion and according to the information and explanations given to us, 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 and therefore, clause 4(xii) of the order is not applicable.

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

14. The Company is not dealing or trading in shares, securities debentures and other investments. Therefore, Clause 4(xiv) of the Order is not applicable.

15. The Company has not given guarantee for loans taken by others from banks or financial institution and therefore, clause 4(xv) of the order is not applicable.

16. The Company has not taken any terms loans and therefore, Clause 4(xvi) of the Order is not applicable.

17. According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company ,we are of the opinion that the Company has not utilized funds raised on short terms basis for long term investment and vice versa.

18. The company has not made preferential allotment of share to parties and companies covered in the register maintained under section 301 of the companies act, 1956 and therefore, clause 4(xvi) of the order is not applicable.

19. The Company has not issued any debentures and hence, Clause (xix) of the Order is not applicable.

20. The company has not raised any money by way of public issue during the year and therefore, clause 4(xx) of the order is not applicable

21. In our opinion and according to the information and explanations given to us, no fraud on or by the Company has not been noticed or reported during the year.

For MA.PARKH & Co. CHARATERED ACCOUNTANTS

NAME: AJIT C. SHAH PARTNER MEMBERSHIP NO. 13097 ICAL Registration No.107556W

MUMBAI DATE: 25/8/2011

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Mar 31, 2010

We have audited the attached Balance Sheet of PESTICIDES AND BREWERS LIMITED as at 31st March, 2010 and the Profit & Loss Account and the 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.

We have 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 misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in 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.

We repot that:

1. As required by the companies (Auditors Report) order, 2003 issued by the company Law Board in terms of section 227 (4A) of the Companies Act, 1956, and on the basis of such check as we considered necessary and as per the information and explanation given to us, we enclose in the annexure a statement on the matters specified in paragraphs 4 and 5 of the said order

2. Further to our comments in the Annexure referred to in paragraphs 1 above, we report that:

a) Subject to Note No.2 in schedule 18-B regarding non- availability of the particulars of investments, we have obtained all the information and explanation, which to the best of our knowledge and belief were necessary for the purpose of our audit.

b) The company does not provide of gratuity the amount of which is not material, but charges in the year of payment. Subject to the same, in our opinion, proper books of accounts, as required by law have been kept by the company so far as it appears from our examination of the books.

c) The Balance Sheet and Profit and Loss Account dealt with by this report are in agreement with the books of account.

d) The Company has not complied with AS 15- Employee Benefits revised (2005), as it has not provided for gratuity and leave salary on accrual basis as required there under, subject to the same, in our opinion, the Balanced Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in Section 211(3C) of the Companies Act 1956.

e) On the basis of representation made by Directors of the company and taken on records by the Board of Directors, none of the directors of the company are disqualified from being appointed as directors of the company under clause (g) of sub- section (1) of section 274 of the Companies Act, 1956.

f) In our opinion and to the best of our knowledge and according to the information and explanations given to us, the accounts read with other notes thereon and subjects to:

a). Note No. 1 in schedule 18-B, regarding non- provision of doubtful debts aggregating to Rs. 68, 18,926 and note No.6 in schedule 18-B regarding non provision of accruing liability in respects of gratuity and leave salary, the amounts which had not been ascertained to the extent consequent over-statement of the profit for the year

b) Note No.3 in Schedule 18-B regarding non- confirmation of certain balances and other note 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 principle generally accepted in India.

(a). In the case of Balance Sheet of the sate of affairs of the company as at 31st March, 2010;

(b). In the case of the Profit and Loss Account of the profit of the company for the year ended on the date; and

Annexure to Auditors Report Referred to in Paragraph 1 of our report of even date

1. In respect of its fixed assets:

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

B. We are informed that the company conducts physical verification of all the fixed assets in a phased manner. Accordingly, some of the fixed assets have been so verified during the year. In our opinion, having regards to the size of the company and the nature of its fixed assets, the frequency of conducting physical verification of the fixed assets is reasonable. No material discrepancies were noticed on such physical verification.

C. During the year, the company has not disposed off substantial part of its fixed assets and therefore, the question of affecting the going concern status of the company does not arise.

2. In respect of its inventories:

(a)We are informed that the inventories have been physically verified by the management at reasonable intervals.

(b)ln our opinion and according to the information and explanations give to us, the procedure of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

(c)The company has maintained proper records of inventories. As explained to us, the discrepancies noticed upon physical verification of inventories were not material as compared to the books records and have been properly dealt with in the books of account.

3. The company has not granted or taken any loan secured or unsecured from any company, firm or other parties listed in the register maintained under section 301 of the companies Act, 1956.

4. 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 for the purpose of inventory and fixed assets and for the sale of goods. During the course of our audit, we have not observed any major weakness in internal controls.

5.1 As per the information and explanation given to us and records produce before us, the transactions that need to be entered in the register in pursuance of section 301 of the companies Act, I9S6, have been so entered.

5.2 Each of this transactions as entered into register in pursuance of section 301 of the companies Act, 1956, have been made at the price which are reasonable having regards to prevailing market price at that relevant time.

6. The Company has not accepted any deposits from public.

7. The Company did not have internal audit system during the year.

8. The Central Government has not prescribed maintenance of cost records under section 209 (1) (d) of Companies Act, 1956 in respect of any of the products of the company.

9. In respect of statutory dues:

a. Company is regular in depositing the statutory dues and there are no undisputed amounts payable in respect of income tax, wealth tax, custom duty and excise duty, which were due for more than six months from the date they became payable.

b. The company has a following disputed liabilities remaining unpaid as stated below:

Nature of Dues Amount Rs. /Lacs Period Forum where dispute is pending

i) Water Charges 7.31 Past Years Thane Municipal Corporation

10. The company has been register for a period of not less than five years and its accumulated losses at the end of financial year are less than fifty percent of its net worth. It has earned cash Profit in the current financial year and in the financial year immediately preceding such financial year also.

11.1 The company has not defaulted in repayment of dues to the bank.

11.2 The company has no dues payable to financial institution and debenture holders.

12 In our opinion and according to the information and explanations given to us, 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 or a nidhi / mutual benefit fund / society. Therefore, clause 4(xiii) of the Order is not applicable.

14 The Company is not dealing or trading in shares, securities debentures and other investments. Therefore, Clause 4(xiv) of the Order is not applicable.

15 The Company has not given guarantee for loans taken by others from banks or financial institution.

16 The Company has not taken any terms loans and therefore. Clause 4(x vi) of the Order is not applicable.

17 According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company ,we are of the opinion that the Company has not utilized funds raised on short terms basis for long term investment and vice versa.

18 The Company has not issued any debentures and hence, Clause (xix) of the Order is not applicable.

19 The Company has not raised any money by way of public issue during the year and therefore, Clause 4(xx) of the Order is not applicable

20 In our opinion and according to the information and explanations given to us, no fraud on or by the Company has not been noticed or reported during the year.

For M.A.PARIKH & Co.

CHARATERED ACCOUNTANTS

NAME: AJ1T C. SHAH

PARTNER

MEMBERSHIP NO. 13097

ICAL Registration NO.107556W

MUMBAI, DATE: 30/8/2010

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Mar 31, 2009

We have audited the attached Balance Sheet of PESTICIDES AND BREWERS LIMITED as at 31st March, 2009 and the Profit & Loss Account and the 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.

We have 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 misstatements. An audit includes examining, on a test basis. Evidence supporting the amounts and disclosures in 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.

We repot that:

1. As required by the companies (Auditors Report) order, 2003 issued by the company Law Board in terms of section 227 (4A) of the companies Act, 1956, and on the basis of such check as we considered necessary and as per the information and explanation given to us, we enclose in the annexure . statement on the matters specified in paragraphs 4 and 5 of the said order.

2. Further to our comments in the Annexure referred to in paragraphs 1 above, we report that:

a) Subject to Note No.2 in schedule 16-B regarding non- availability of the particulars of investments, we have obtained all the information and explanation, which to the best of our knowledge and behalf were necessary for the purpose of our audit.

b) The company does not provide of gratuity the amount of which is not material, but charges in the year of payment. Subject to the same, in our opinion, proper books of accounts, as required by law have been kept by the company so far as it appears from our examination of the books. -

c) The Balance Sheet and Profit and Loss Account dealt with by this report are in agreement with the books of account.

d) In our opinion, the Balanced Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in Section 211(3C) of the Companies Act 1956.

c) On me basis of representation made by Directors of the company and taken on records by the Board of Directors, none of the directors of the company are disqualified from being appointed as directors of the company under clause (g) of sub- section (1) of section 274 of the companies Act, 1956.

f) In our opinion and to the best of our knowledge and according to the information and explanations given to us, the accounts read with other notes thereon and subjects to:

a). NoteNo.l in schedule 16-B, regarding non- provision of amounts aggregating to Rs 84,31,337 and the consequent over statement of the Profit for the year.

b) Note No.3 in Schedulen 16-B regarding non- confirmation of certain balances and other note 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 principle generally accepted in India.

(a). In the case of Balance Sheet of the sate of affairs of the company as at 31st March, 2009;

(b). In the case of the Profit and Loss Account of the profit of the company for the year ended on the date; and

Annexure to Auditors Report Referred to in Paragraph I of our report of even date

1. In respect of its fixed assets:

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

b. We are informed that the company conducts physical verification of all the fixed assets in a phased manner. Accordingly, some of the fixed assets have been so verified during the year. In our opinion, having regards to the size of the company and the nature of its fixed assets, the frequency of conducting physical verification of the fixed assets is reasonable. No material discrepancies were noticed on such physical verification.

c. During the year, the company has not disposed off substantial part of its fixed assets and therefore, the question of affecting the going concern status of the company does not arise.

2. In respect of its inventories:

(a) We are informed that the inventories have been physically verified by the management at reasonable intervals.

(b) In our opinion and according to the information and explanations give to us, the procedure of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the and the nature of its business.

The company has maintained proper records of inventories. As explained to us, the discrepancies noticed upon physical verification of inventories were not material as compared to the books records and have been properly dealt with in the books of account.

3. The company has not granted or taken any loan secured or unsecured from any company, firm or other parties listed in the register maintained under section 301 of the companies Act, 1956.

4. 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 for the purpose of inventory and fixed assets, and for the sale of goods. During the course of our audit, we have not observed any major weakness in internal controls.

5.1 As per the information and explanation given to us and records produce before us, the transactions that need to be entered in the register in pursuance of section 301 of the companies Act, 1956, have been so entered.

5.2. Each of this transactions as entered into register in pursuance of section 301 of the companies Act, 1956, have been made at the price which are reasonable having regards to prevailing market price at that relevant time.

6. The Company has not accepted any deposits from public.

7. The Company did not have internal audit system during the year.

8. The Central Government has not prescribed maintenance of cost records under section 209 (1) (d) of Companies Act, 1956 in respect of any of the products of the company.

9. In respect of statutory dues:

a. Company is regular in depositing the statutory dues and there are no undisputed amounts payable in respect of income tax, wealth tax, custom duty and excise duty, which were due for more than six months from the date they became payable.

b. The company has a following disputed liabilities remaining unpaid as stated below:

Nature of Dues Amount Rs./Lacs Period Forum where dispute is pending

i) Water Charges 7.31 Past Years Thane Municipal Corporation

8. The company has been register for a period of not less than five years and its accumulated losses at the end of financial year are less than fifty percent of its net worth. It has earned cash Profit in the current financial year and in the financial year immediately preceding such financial year also.

11.1 The company has not defaulted in repayment of dues to the bank.

11.2 The company has no dues payable to financial institution and debenture holders.

12 In our opinion and according to the information and explanations given to us, 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 or a nidhi / mutual benefit fimd / society. Therefore, clause 4(xiv) of the Order is not applicable.

14 The Company is not dealing or trading in shares, securities debentures and other investments. Therefore, Clause 4(xiv) of the Order is not applicable.

15 The Company has not given guarantee for loans taken by others from banks or financial institution.

16 The Company has not taken any terms loans and therefore, Clause 4(xiv) of the Order is not applicable.

17 According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company ,we are of the opinion that the Company has not utilized funds raised on short terms basis for long term investment and vice versa.

18 The Company has not issued any debentures and hence, Clause (xix) of the Order is not applicable.

19 The Company has not raised any money by way of public issue during the year and therefore. Clause 4(xx) of the Order is not applicable

20 In our opinion and according to the information and explanations given to us, no fraud on or by the Company has not been noticed or reported during the year.

For M.A.PARIKH & Co.

CHARATERED ACCOUNTANTS

MUMBAI,

DATE: 31 /8/2009 NAME: AJIT C. SHAH

PARTNER MEMBERSHIP NO. 13097