Shikhar Consultants Ltd.की ऑडीटर रिपोर्ट

Mar 31, 2024

1. We have audited the accompanying financial statements of Shikhar Consultants
Limited (the “Company”), which comprise the Balance Sheet as at 31-03-2024 and
the Statement of Profit and Loss and Cash Flow Statement for the year then ended,
and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

2. 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 standalone 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 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.

Auditors’ Responsibility

3. Our responsibility is to express an opinion on these financial statements based on
our audit.

4. We have taken into account the provisions of the Act and the Rules made there
under including the accounting standards and matters which are required to be
included in the audit report.

5. We conducted our audit in accordance with the Standards on Auditing specified
under Section 143(10) of the Act and other applicable authoritative pronouncements
issued by the Institute of Chartered Accountants of India. Those Standards and
pronouncements 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.

6. An audit involves performing procedures to obtain audit evidence about the
amounts and the 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 control relevant to
the Company’s preparation of the financial statements that give a true and fair view
in order to design audit procedures that are appropriate in the circumstances. An

audit also includes evaluating the appropriateness of the 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.

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

Basis for Qualified Opinion

8. We draw your attention to the Note 21 to the financial statements, regarding The
company suspended on Bombay Stock Exchange since long time.

Provision has been made in books of account in respect of fees and penalties which
may be levied on the Company for aforesaid non-compliances. Any fees and
penalties that may be levied by the Stock Exchange or SEBI for such non
compliances cannot presently be determined.

Qualified Opinion

9. In our opinion, and to the best of our information and according to the explanations
given to us, except for the indeterminate effects of the matter described in para 8
above, in the Basis for Qualified Opinion paragraph, the accompanying standalone
financial statements give the information required by the Act in the manner so
required and give a true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Company as at 31-03-2024,
and its profit and loss and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

10. As required by ‘the Companies (Auditor’s Report) Order, 2016’, issued by the Central
Government of India in terms of sub-section (11) of section 143 of the Act
(hereinafter referred to as 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 B a statement on
the matters specified in paragraphs 3 and 4 of the Order.

11. 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 and 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 accompanying financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with Rule 7 of
the Companies (Accounts) Rules, 2014; and

(e) On the basis of the written representations received from the directors as on 31¬
03-2024 taken on record by the Board of Directors, none of the directors is
disqualified as on 31-03-2024 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 A.

(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 knowledge and belief and according to the
information and explanations given to us:

(i) The Company does not have any pending litigations as at 31-03-2024 which
would impact its financial position.

(ii) The Company did not have any long-term contracts including derivative
contracts as at 31-03-2024.

(iii) There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Company during the year ended 31¬
03-2024.

For RDB and Associates
Chartered Accountants
Firm Reg. Number: 135005W

CA Aniket Baldawa

Place: Ahmednagar Partner

Date: 30-05-2024 Membership No. :149821

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Mar 31, 2011

We have audited the attached Balance Sheet of SHIKHAR CONSULTANTS LIMITED as at 31/03/2011 and also the Profit and Loss Account 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 conducted our audit in accordance with auditing stewards generally expected in India. Those standards require that we plan and perform the audit to obtain reasonable assurances about whether the financial statement are free of material miss-statement. An audit includes examining,, on a test basis,, evidence supporting the amount and disclosures in the financial statements. An audit also includes as3.ess.ing the accounting principles used and significant estimates made by management,, as well as- evaluating the overall financial statements presentation. We believe that our audit provides a reasonable basis for our opinion and report that;

1. 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;

2. in our opinion,, proper books of accounts are required by taw have been kept by the Company,, so far as appears from our examination of such books;

3. Tine Balance Sheet and Profit and Loss Account referred to in this report are in agreement with We Books of Accounts.

4. In our opinion and to the Best of our information and according to the explanations given to us,, the said Balance Sheet and Profit and Loss Account read together with the notes thereon give the information required by the Companies Act,, 1956 and in the manner so required and give a true and fair view;

(a) In the case of the Balance Sheet,, of the state of affairs of the company as at 31/03/2011 and

(b) In the Case of the Profit and Loss Account of the Profit for the year ended on that date.

5. On the basis of written representation received from the directors,, taken on record by the Board of Directors „ no directors is disqualified as on 31/03/2011 from being appointed as director L)/s. 274(1 )(o) of the Companies Act.

6. In Our opinion Profit & Loss Account,, Balance Sheet comply with the accounting standards referred to in sub-section 3(c) of section 211.

7. As required by Companies (Audit Report) Order,, 2003 issued by the

Company Law Board in the terms of section 227 14A) of the Companies Act,, 1956 and on the basis of checks of the books of account and records of the Company as we considered appropriate and according to the information and explanations given to us during the course of audit we further state in Annexure on the matters specified in paragraph 4 and 5 of the said order

Auditor's Report

To,

The Members of,

We have audited the attached Balance Sheet of SHIKHAR CONSULTANTS LIMITED as at 31/03/2011 and also the Profit and Loss Account 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 conducted our audit in accordance with auditing standards generally expected in India. Those standards require that we plan and perform the audit to obtain reasonable assurances about whether the financial statement are free of material miss-statement. An audit includes examining, on a test basis, evidence supporting the amount 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 statements presentation. We believe that our audit provides a reasonable has is for our opinion and report that;

(1)Whether the company is maintaining proper records showing full particulars, including quantitative details and situation of Used assets;

YES

(2)Whether these fixed assets have been physically verified by the management at reasonable intervals; whether any material discrepancies were noticed on such verification and if so, whether the same have been properly dealt with in the books of account;

YES

(3)lf a substantial part of fixed assets have been disposed off during the year, whether it has affected the going concern; Not Applicable as company has nut disposed off any fixed assets during the year under consideration

(4)Whether physical verification of inventory has been conducted at reasonable intervals by the management

Not Applicable being service industry

(5)Are the procedures of physical verification of inventory' followed by the management readable and adequate in relation to the size of the company and the nature of its business. If not, the inadequacies in such procedures should be reported;

N.A.

(6) Whether the company is maintaining proper records of inventory and whether any material discrepancies were noticed on physical verification and if so, whether the same have been property dealt with in the books of account;

N.A.

(7)Has the company either granted or taken any loans, secured or unsecured to from companies, firms or other parties covered in the register maintained under section 301 of (be Act. If so, give the number of parties and amount involved in the transactions.

N.A,

(8)Whether the rate of interest and other terms and conditions of loans given or taken by the company secured or unsecured are prima facie prejudicial to the interest of the company.

NO THE RATES OF INTEREST AND TRRMS AND CONDITIONS ARE NOT PRIMJA FACIE PREJUDICIAL TO INTEREST OF THE COMPANY

(9)Whether payment of the principal amount and interest are also regular,

YES

(10)lf overdue amount is more than one lakh, whether reasonable steps have been taken by the company for recovery/ Payment of the principal and interest;

NO OVERDUE AMOUNT

(11) Is there an adequate internal control procedure commensurate with the size of the company and the nature of its business for the purpose of inventory and fixed assets a ad for the sale of goods. Whether there is a continuing failure to correct major weaknesses in internal control;

(12)Whether transaction that need to be entered into a user in pursuance of section 301 of the Act have been so entered;

YES

(13)Whether each of these transactions have been made at prices which are reasonable Laving regard to thy prevailing market prices at the relevant time; (This information is required only in case of transactions exceeding the value of five lakh rupees in respect of any party and in any one financial year),

YES

(14)It case die company has accepted deposits from the public, whether the directives issued by The Reserve Bank of India and the provisions of sections 58A and 58AA of the Act and the rules framed there under, where applicable, have been complied with. If not, the nature of contraventions should be slated; If an order has been passed by Company Law Board whether the same has been complied with or not?

NOT APPLICABLE AS COMPANY HAS NOT ACCEPTRD ANY DEPOSITS FROM PURLJC

(15) ln the case of listed companies and/or other companies having a paid-up capital and reserves exceeding Rs, 50 lakhs as at the commencement of the financial year concerned, or having on average annual turnover exceeding five crores rupees for a period of three consecutive financial years immediately preceding the financial year concerned, whether the company has an internal audit system commensurate with its size and nature of its business;

Not applicable, as company annual turnover does not exceed R.FIVE CRORES

(16)Where maintenance of cost records has been prescribed by the Central Government under clause(d) of sub-section(l) of section 209 of the Act, whether such accounts and records have been made and maintained;

N.A.

(17}ls the company regular in depositing undisputed statutory dues including Provident Fund, investor Education and Protection Fund, employees & state Insurance. Income-tax, Sales-tax, Wealth Tax, Custom Duty, Excise Doty, cess and other Statutory dues with the appropriate authorities. and if not, the extent of the arrears of outstanding statutory dues at the last day of the financial year concerned for a period of more than six months from the dale they became payable, shall be indicated by the auditor,

NOT APPLICABLE

(18) In case dues of Sales tax/ income tax/ custom tax/ wealth tax/ excise duty/ cess have not been deposited on account of any dispute, then the amounts involved and the forum where dispute is pending may please be mentioned. {A mere representation to the Department shall not constitute the dispute).

NO SUCH DUES ARE PENDING

(19) Whether in case of a company which has been registered for a period not Jess than five years, its accumulated losses at the end of the financial year are not less than fifty percent of its net worth and whether it has incurred cash losses in such financial year and in the financial year immediately preceding such financial year also;

N.A.

(20) Whether the company has defaulted in repayment of dues to a financial institution or bank or debenture holders? If yes, the period and amount of default to be reported;

Not applicable as company has not taken any loan from any financial institution

(21) Whether adequate documents and records are maintained in cases where; the company has granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities; If not, the deficiencies to be pointed out

Not Applicable as co has not granted any loan on such security

(22) Whether the provisions of any special statute applicable to chit fund have been duly complied with? In respect of nidhi/ mutual benefit fund/ societies; Whether the net-owned funds to deposit liability ration is more than 1:20 as on the date of balance sheet;

N.A.

(23) Whether the company has complied with the prudential norms on income recognition and provisioning against sub-standard/default/loss assets.

YES

(24) Whether the company has adequate procedures for appraisal of credit proposed request, assessment of credit needs and repayment capacity of the borrowers;

YES

(25) Whether the repayment schedule of various loans granted by the nidhi is based on the repayment capacity of the borrower and would be conductive to recovery of the Joan amount;

NA

(26)If the company is dealing or trading in shares, securities, debentures and whether proper records have been maintained of the transactions and contracts and whether timely entries/that been main ting. also whether the shares., securities, debentures and other securities have been held by the companies its to the extent of the exemption, if any, granted under section 49 of the Act.

(27)Whether the company has defaulted in repayment of dues to a financial institution or bank or debenture holders? If yes, the period and amount of default to be reported;

(28)Whether term loans were applied for the purpose for which the loans were obtained;

N.A.

(29) Whether the funds rained on short-term basis have been used for long term investment and vice versa; If yes, the nature And amount to be indicated-,

(30) Whether the company has made any preferential allotment of shares to parties and companies covered In the Register Maintained under section 301 of the Act and if so whether the price at which shares have been issued is prejudicial in the interest of the company;

N.A.

(31)Whether securities have been created in respect of debentures Issued?

N.A,

(32) Whether the management has disclosed on the end use of money raised by public issues and the same the been verified;

N.A.

(33) Whether any fraud on or by the company has been noticed or reported during the year; If year, the nature and the amount involved is to he indicated.

As informed to us and on the basis of verification of records no such fraud has been taken place during the financial year Reasons to be stated for unfavorable or qualified answers

Whether, in the auditor s report, the answer to any of the questions referred to in paragraph 4 is unfavorable or qualified the auditor s report shall also state the reasons for such unfavorable or qualified answer as the case may he. Where the auditor is unable to express any opinion in answer to a particular question, his report shall indicate such fact together with the reasons why it is not possible for him to give an answer to such question,

n.a



Place: AHMEDNAGAR For Ishwar Tawani

Date: 22/08/2011 Chartered Accuntants

Properitor

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Mar 31, 2010

We have audited the attached Balance Sheet of SHIKHAR CONSULTANTS LIMITED as at 31/03/ 2010 and also the Profit and Loss Account 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 conducted" our audit in accordance with auditing standards generally expected in India. Those standards require that we plan and perform the audit to obtain reasonable assurances about wether the financialstatement are free of material miss-statement. An audit includes examining,, on a test basis,, evidence supporting the amount 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 statements presentation. We believe that our audit provides a reasonable basis for our opinion and report that;

1. 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;

2. In our opinion,, proper books of accounts are required by law have been kept by the Company,, so far as appears from our examination of such books;

3. The Balance Sheet and Profit and Loss Account referred to in this report are in agreement with the Books of Accounts.

4. In our opinion and to the best of our information and according to the explanations given to us,, the said Balance Sheet and Profit and Loss Account read together with the notes thereon give the information required by the Companies Act,, 1956 and in the manner so required and give a true and fair view;.

(a) In the case of the Balance Sheet,, of the state of affairs of the company as at 31/03/2010 and

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

5. On the basis of written representation received from the directors, taken on record by the Board of Directors,, no directors is disqualified as on 31/03/2010 from being appointed as director U/s. 274(1 )(o) of the Companies Act.

6. In our opinion Profit & Loss Account,, Balance Sheet comply with the, accounting standards referred to in sub-section 3(c) of section 211.

7. As required by the manufacturing and other Companies (Audit Report) Order,, 2003 issued by the Company Law Board in the terms of section 227 (4A) of the Companies Act,, 1956 and on the basis of checks of the books of account and records of the Company as we considered appropriate and according to the information and explanations given to us during the course of audit we further state on the matters specified in paragraph 4 and 5 of the said order as per Annexure I enclosed.

ANNEXURE TO AUDITORS REPORT TO THE MEMBERS OF SHIKHAR CONSULTANTS LIMITED

We have audited the attached Balance Sheet of SHIKHAR CONSULTANTS LIMITED as at 31/03/ 2010 and also the Profit and Ldss Account 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 conducted our audit in accordance with auditing standards generally expected in India. Those standards require that we plan and perform the audit to obtain reasonable assurances about whether the financial statement are free of material miss-statement. An audit includes examining, on a test basis, evidence supporting the amount 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 statements presentation. We believe that our audit provides a reasonable basis for our opinion and report that;

(1) Whether the company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets;

YES

i2) Whether these fixed assests have been physically verified by the management at reasonable intervals; whether any material discrepancies were noticed on such verification and if so, whether the same have been properly dealt with in the books of account;

YES

(3) If a substantial part of fixed assests have been disposed off during the year, whether it has affected the going concern;

NO

(4) Whether physical verification of inventory has been conducted at reasonable intervals by the management;

NOT APPLICABLE BEING NON-BANKING FINANCIAL COMPANY

(5) Are the procedures of physical verification of inventory followed by the management reaonable and adequate in relation to the size of the company and the nature of its business. If not, the inadequacies in such procedures should be reported;

NOT APPLICABLE BEING NON-BANKING FINANCIAL COMPANY

(6) Whether the company is maintaining proper records of inventory and whether any material discrepancies were noticed on physical verification and if so, whether the same have been properly dealt with in the books of account;

NOT APPLICABLE BEING NON-BANKING FINANCIAL COMPANY

(7) Has the company either granted or taken any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under section 301 of the Act. If so, give the number of parties and amount involved in the transactions. NOT APPLICABLE

(8) Whether the rate of interest and other terms and conditions of loans given or taken by the company secured or unsecured are prima facie prejudicial to the interest of the company.

NO THE RATES OF INTEREST AND TERM ANDI CONDITIONS ARE NOT PRIMA FACIEA PREJUDICIAL TO THE INTEREST OF COMPANY. HOWEVER, THE COMPANY HAS NOT RECOVERED ANY INTEREST FROM RAJATH MATERIAL HANDLING SYSTEM AND SIGNORA FINANCE P LTD. ON AMOUNT ADVANCED OF RS. 2867968 AND RS.4200000 RESPECTIVELY.

(9) Whether payment of the principal amount and interest are also regular;

YES, WHEVEREVER INTEREST HAS BEEN CHARGED, THE RECOVERY OF THE SAME ALONGWITH PRINCIPAL IS REGULAR.

(10) If overdue amount is more than one lakh, whether reasonable steps have been taken by the company for recovery/ Payment of the principal and interest;

NO OVERDUE AMOUNT

(11) Is there an adequate internal control procedure commensurate with the size of the company and the nature of its business, forthe purpose of inventory and fixed assests and for the sale of goods. Whether there is a continuing failure to correct major waknesses in internal control;

YES

(12) Whether transaction that need to be entered into a register in pursuance of section 301 of the Act have been so entered;

YES

(13) Whether each of these transactions have been made at prices which are reasonable having regard to the prevailing market prices at the relavant time; (This information is required on|y in case of transactions exceeding the value of five lakh rupees in respect of any party and in any one financial year).

YES

(14) In case the company has accepted deposits from the public, whether the directives issued by the Reserve Bank of India and the provisions of sections 58A and 58AA of the Act and the rules framed there under, where applicable, have been complied with. If not, the nature of contraventions should be stated; If an order has been passed by Company Law Board whether the same has been complied with or not?

NOT APPLICABLE AS THE COMPANY HAS NOT ACCEPTED DEPOSIT FROM PUBLIC

(15) In the case of listed companies and/or other companies having a paid-up capita) and reserves exceeding Rs. 50 lakhs as at the commencement of the financial year concerned, or having an average annual turnover exceeding five crore rupees for a period of three consecutive financial years immediately preceding the financial year concerned, whether the company has an internal audit system commensurate with its size and nature of its business;

NOT APPLICABLE

(16) Where maintenance of cost records has been prescribed by the Central Government under clause(d) of sub-section(l) of section 209 of the Act, whether such accounts and records have been made and maintained;

NOT APPLICABLE

(17) Is the company regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, employees State Insurance, Income-tax, Sales-tax, Wealth Tax, Custom Duty, Excise Duty, cess and other statutory dues with the appropriate authorities and if not, the extent of the arrears of outstanding statutory dues at the last day of the financial year concerned for a period of more than six months from the date they became . payable, shall be indicated by the auditor.

NOT APPLICABLE

(18) In case dues of Sales tax/ income tax/ custom tax/ wealth tax/ excise duty/ cess have not been deposited on account of any dispute, then the amounts involved and the forum where dispute is pending may please be mentioned. (A mere representation to the Department shall not constitute the dispute).

NO SUCH DISPUTED/UNDISPUTED TAXES REMAINED AS UNPAID

(19) Whether in case of a company which has been registered for a period not less than five years, its accumulated losses at the end of the financial year are not less than fifty percent of its net worth and whether it has incurred cash losses in such financial year and in the financial year immediately preceding such financial year also;

N.A.

(20) Whether the company has defaulted in repayment of dues to a financial institution or bank or debenture holders? If yes, the period and amount of default to be reported;

AS THE COMPANY HAS NOT BORROWED ANY AMOUNT FROM FINANCIAL INSTITUTION QUESTION OF DEFAULT DOES NOT ARISE

(21) Whether adequate documents and records are maintained in cases where the company has granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities; If not, the deficiencies to be pointed out.

YES

(22) Whether the provisions of any special statute applicable to chit fund have been duly complied with? In respect of nidhi/ mutual benefit fund/ societies; Whether the* net-owned funds to deposit liability ration is more than 1:20 as on the date of balance sheet;

NOT APPLICABLE

(23) Whether the company has complied with the prudential norms on income recognition and provisioning against sub-standard/default/loss assests.

YES

(24) Whether the company has adequate procedures for appraisal of credit proposals/ requests, assessment of credit needs and repayment capacity of the borrowers;

NOT APPLICABLE AS THE COMPANY- HAS NOT ADVANCED ANY LOANS/ADVANCES DURING THE FINANCIAL YEAR.

(25) Whether the repayment schedule of various loans granted by the nidhi is based on the repayment capacity of theborrower and would be conductive to recovery of the loan amount;

NOT APPLICABLE AS THE COMPANY HAS NOT GRANTED LOANS AND ADVANCED ON THE BASIS OF SECURITY BY WAY OF SHARES, DEBENTURES AND OTHER SECURITEIS.

(26) If the company is dealing or trading in shares, securities, debentures and other investments, Whether proper records have been mainted of the transactions and contracts and whether timely entries have been made therein; also whether the shares, securities, debentures and other securities have been held by the company, in its own name except to the extent of the. exemption, if any, granted under section 49 of the Act;

YES

(27) Whether the company has defaulted in repayment of dues to a financial institution or bank or debenture holders? If yes, the period and amount of default to be reported;

NOT APPLICABLE I

(28) Whether term loans were applied for the purpose for which the loans were obtained; NOT APPLICABLE AS THE CO HAS NOT TAKEN ANY LOANS

(29) Whether the funds raised on short-term basis have been used for long term investment and vice versa; If yes, the nature and amount is to be indicated;

NOT APPLICABLE

(30) Whether th company has made any preferential allotment of shares to parties and companies covered in the Register maintained under section 301 of the Act and if so whether the price at which shares have been issued is prejudicial to the interest of the company;

NOT APPLICABLE

(31) Whether securities have been created in respect of debentures issued? NOT APPLICABLE

(32) Whether the management has disclosed on the end use of money raised by public issues and the same has been verified;

NOT APPLICABLE

(33) Whether any fraud on or by the company has been noticed or reported during the year; If year, the nature and the amount involved is to be indicated.

AS INFORMED TO US AND ON THE BASIS OF RECORDS PRODUCED BEFORE US NO FRAUD HAS BEEN TAKEN PLACE DURING THE FINANCIAL YEAR.

Reasons to be stated for unfavourable or qualified answers.

Whether, in the auditor s report, the answer to any of the questions referred to in paragraph 4 is unfavourable or qualified, the auditor s report shall also state the reasons for such unfavourable or qualified -answer, as the case may be. Where the auditor is unable to express any opinion in answer to a particular question, his report shall indicate such fact together with the reasons why it is not possible for him to give an answer to such question.

NIL

For Place : AHMEDNAGAR

Date : 24/08/2010

For ISHWAR TAWANI & ASSOCIATES

Chartered Accountants

ISHWAR TAWANI

Proprietor