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Siddheswari Garments Ltd.की ऑडीटर रिपोर्ट

Mar 31, 2024

We have audited the accompanying Ind AS financial statements of SIDDHESWARI GARMENTS
LTD(âthe Companyâ), which comprise the Balance Sheet as at 31st March, 2024, and the Statement of
Profit and Loss, including Other Comprehensive Income, the Cash Flow Statement and the Statement
of Changes in Equity for the year then ended, and a summary of the significant accounting policies and
other explanatory information.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid standalone Ind AS 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 financial position of the Company as at 31st March, 2024, and its profit, total comprehensive
income, its cash flows and the changes in equity for the year ended on that date.

Basis of Opinion

We conducted our audit of the standalone Ind AS financial statements in accordance with the standards
on Auditing (SAs) specified under section 143(10) of the Companies Act,2013. Our responsibilities
under those Standards are further described in the âAuditorâs Responsibilities for the audit of Standalone
Ind AS Financial Statementsâ 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 together with the
ethical requirements that are relevant to our audit of the financial statements under the provisions of the
Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with
these requirements and the Code of Ethics. We believe that the audit evidence we have obtained in
sufficient and appropriate to provide a basis for our audit opinion on the standalone Ind AS financial
statements.

Key Audit Matter

Key audit matters are those matters that, in our professional judgment, were of most significance in our
audit of the standalone Ind AS financial statements for the financial ended March 31, 2024. These
matters were addressed in the context of our audit of the standalone Ind AS financial statements as a
whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
For each matter below, our description of how our audit addressed the matter is provided in that context.
We have determined the matters described below to be the key audit matters to be communicated in
our report. We have fulfilled the responsibilities described in the Auditorâs responsibilities for the audit
of the standalone Ind AS financial statements section of our report, including in relation to these matters.
Accordingly, our audit included the performance of procedures designed to respond to our assessment
of the risks of material misstatement of the standalone Ind AS financial statements. The results of our
audit procedures, including the procedures performed to address the matters below, provide the basis
for our audit opinion on the accompanying standalone Ind AS financial statements.

Key Audit Matters

Auditorâs Response

Revenue Recognition

The timing of revenue recognition is relevant to
the reported performance of the Company. The
management considers revenue as a key measure
for evaluation of performance. There is a risk of
revenue being recorded before control is
transferred.

Our audit procedures included the following:

â¢ Assessed the Companyâs revenue recognition
accounting policies in line with Ind AS.

â¢ Tested the effectiveness of such controls over
revenue cut off at year end.

â¢ Compared revenue with historical trends and
where appropriate, conducted further enquiries
and testing.

â¢ Assessed disclosures in financial statements
in respect of revenue, as specified in Ind AS.

We have determined that there are no other key audit matters to communicate in our report.

Other Information

The Companyâs Board of Directors is responsible for the other information. The other information
comprises the information included in the Annual Report, but does not include the standalone Ind AS
financial statements and our auditorâs report thereon.

Our Opinion on the standalone Ind AS financial statements does not cover the other information and we
do not express any form of assurance conclusion thereon.

In connection with our audit of the standalone Ind AS financial statements, our responsibility is to read
the other information and, in doing so, consider whether such other information is materially inconsistent
with the financial statements or our knowledge obtained during the course of our audit or otherwise
appears to be materially.If, based on the work we have performed, we conclude that there is a material
misstatement of this other information; we are required to report that fact. We have nothing to report in
this regard.

Responsibilities of the Management and Those charged with Governance for the Financial
Statements.

The Companyâs Board of Directors is responsible for the matters stated in Section 134(5) of the Companies
Act, 2013 (âthe Actâ) with respect to the preparation of these standalone Ind AS financial statements that
give a true and fair view of the financial position, financial performance including other comprehensive
income, cash flows and changes in equity of the Company in accordance with the accounting principles
generally accepted in India, including the Indian Accounting Standards (Ind AS) prescribed under Section
133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended. 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 judgements and
estimates that are reasonable and prudent; and design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for ensuring the accuracy and completeness of
the accounting records, relevant to the preparation and presentation of the standalone Ind AS financial
statements that give a true and fair view and are free from material misstatement, whether due to fraud
or error.

In preparing the standalone Ind AS financial statements, management is responsible for assessing the
Companyâs ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless management either intends to liquidate
the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Companyâs financial reporting process.

Auditorâs Responsibility for the Audit of the Standalone Ind AS Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditorâs 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 annual financial statements.

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

Identify and assess the risks of material misstatement of the standalone Ind AS 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 controls relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether
the Company has in place an adequate internal financial controls system over financial reporting an the
operating effectiveness of such controls.

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

Conclude on the appropriateness of managementâs use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a material uncertainty exits related to events or conditions
that may cast significant doubt on the ability of the company to continue as a going concern. If we
conclude that a material uncertainty exits, we are required to draw attention in our auditorâs report to the
related disclosures in the 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 auditorâs
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 Ind AS financial statements,
including the disclosures, and whether the financial statements represent the underlying transactions
and events in a manner that achieves fair presentation.

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 as 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 I nd AS financial statements
of the year ended March 31,2024 and are therefore the key audit matters. We describe their matters in
our auditorâs report unless law or regulation precludes public disclosure about the matter or when, in
extremely rare circumstamces, we determine that a matter should not be communicated in our report
because the adverse consequences of doing so would reasonably be expected to outweigh the public
interest benefits of such communication.

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditorâs Report) Order, 2020 (âthe Orderâ) issued by the Central
Government of India in terms of sub-section (11) of section 143 of the Act, we give in âAnnexure Aâ,
a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

2. As required by Section 143(3) of the Act, based on our audit, we report to the extent applicable
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 accounts as required by law have been kept by the Company in
electronic mode on servers physically located in India so far as it appears from our examination
of those books.

c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income,
the Cash Flow Statement and Statement of Changes in Equity dealt with by this Report are in
agreement with the relevant books of accounts.

d) In our opinion, the aforesaid Ind AS financial statements comply with the Indian Accounting
Standards prescribed under Section 133 of the Act, read with relevant rules issued thereunder.

e) On the basis of the written representations received from the Directors as on 31st March, 2024
taken on record by the Board of Directors, none of the Directors is disqualified as on
31st 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
âAnnexure Bâ. Our report expresses an unmodified opinion on the adequacy and operating
effectiveness of the Companyâs internal financial controls over financial reporting.

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

In our opinion and to the best of our information and according to the explanation given to us,
the remuneration paid by the company to its directors during the year is in accordance with the
provision of Section 197 of the Act.

h) With respect to the other matters to be included in the Auditorâs Report in accordance with the
Rule 11 of the Companies (Audit and Auditors) rules, 2014, as amended, in our opinion and to
the best of our information and according to the explanations given to us:

(i) The Company does not have any pending litigations which would impact its financial
position.

(ii) The Company did not have any long-term contracts, including derivative contracts for
which there were any material foreseeable losses.

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

(iv) (A) The management has represented that, to the best of itâs knowledge and belief,

other than as disclosed in the notes to the accounts, no funds have been advanced
or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the company to or in any other person(s) or entity(ies),
including foreign entities (âIntermediariesâ), with the understanding, whether recorded
in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend
or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the company (âUltimate Beneficiariesâ) or provide any guarantee, security
or the like on behalf of the Ultimate Beneficiaries;

(B) The management has represented, that, to the best of itâs knowledge and belief,
other than as disclosed in the notes to the accounts, no funds have been received by
the company from any person(s) or entity(ies), including foreign entities (âFunding
Partiesâ), with the understanding, whether recorded in writing or otherwise, that the
company shall, whether, directly or indirectly, lend or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the Funding Party (âUltimate
Beneficiariesâ) or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries; and

(C) Based on audit procedures which we considered reasonable and appropriate in the
circumstances, nothing has come to their notice that has caused them to believe
that the representations under sub-clause (i) and (ii) contain any material misÂ¬
statement.

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

j) The reporting under Rule 11(g) of The Companies (audit and Auditors) Rules 2014 is applicable
from 01 April 2023. Based on our Examination which include test checks, The Company has
used software for maintaining its books of account which does not have a feature of reporting
audit trail (edit log) facility. However, in our opinion, proper books of accounts stating true & fair
stats of affairs of the company, as required under sec 128(1) of the Companies Act,2013 has
been maintained by the company for the financial year 2023-2024.

k) With respect to the matter to be included in the Auditorsâ Report under Section 197(16) of the
Act, in our opinion the management remuneration for the year ended March,31,2024 has been
paid/provided by the Company to its directors in accordance with the provisions of Section 197
Read with Schedule V to the Act

For R K BAJAJ & CO

Chartered Accountants
FIRM Regn. No. : 314140E

Place : Kolkata - 700 001 ^{(R K BAJAJ} )

Proprietor

^{Dated : 30-05-2024} Membership No. 051715

Mar 31, 2014

We have audited the accompanying financial statements of SIDDHESWARI GARMENTS LIMITED, Kolkata, which comprise the Balance Sheet as at 31 st March, 2014, the Statement of Profit and Loss and the Cash Flow statement for the year ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position and financial performance of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956. (The Act) (Which continues to be Applicable in respect of Section 133 of the companies Act 2013 in terms of General circular No. 15/2013 dt. 1309.2013 at the MCA) and in accorandance with accounting principles generedey accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor''s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. -

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

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

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the 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

i. in the case of the balance sheet, of the state of affairs of the Company as at31 March 2014.

ii. in the case of the statement of profit and loss, of the PROFIT for the year ended on that date.

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2003 ("the Order"), as amended, issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we give in the Annexure a Statement on the matters specified in paragraphs 4 and 5 of the said order.

2. As required by section 227(3) of the Act, we report that:

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

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

c. The Balance Sheet, Statement of Profit and Loss and the Cash Flow Statement dealt with by this Report are in agreement with the books of account;

d. in our opinion, the Balance Sheet, Statement of Profit and Loss and the Cash Flow Statement comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956; and

e. on the basis of written representations received from the directors as on 31 March 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956.

ANNEXURE REFERRED TO IN PARAGRAPH (3) OF OUR REPORT OF EVEN DATE

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

b) The Company has not carried out physical verification of Fixed Assets during the year under review. Hence discrepancies between physical verification and book records could not be ascertained.

c) There was no substantial disposal of fixed assets during the year.

ii) a) The Management has conducted physical verification of inventory at reasonable intervals during the year.

b) The procedures of physical verification of inventory followed by the management are j commensurate in relation to the size of the Company and the nature of its business.

c) The Company is maintaining proper records of inventory. As informed, no material discrepancies were noticed on such physical verification.

iii) The Company has not granted or taken loans to / from secured companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956 and hence Clause iii(a), iii(b), iii(c) and iii(d) of paragraph 4 of the aforesaid order is not applicable.

iv) There is an adequate internal control procedure commensurate with the size of the Company and the nature of the business, for the purchase of inventory and fixed assets and for the sale of goods and services and we have not observed any continuing failure to correct major weaknesses in such internal control system.

v) According to the information and explanations provided by the management there have been no transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956.

vi) The Company has not accepted any deposit from the public.

vii) The Company has an internal audit system, which in our opinion is commensurate with the size and nature of its business.

viii) The Company is not required to maintain cost records.

ix) a) The Company is regular in depositing undisputed statutory dues including Provident fund, investor

education and protection fund, employee''s state Insurance, Income Tax, Sales Tax, Wealth Tax, Service Tax, Customs duty, Excise duty, cess and other material statutory dues as applicable with the appropriate authorities except Rs,9,008/- to be deposited with Investor Education And Protection Fund. There are no outstanding dues in respect of the above items which are more than six months as at the balance sheet date. No undisputed amount payable in respect of Income tax, Wealth Tax, Service Tax, Sales Tax, Custom duty, Excise duty and cess were in arrears as at the end of the financial year for a period of more than six months from the date they became payable.

b) According to the information and explanations given to us, there are no dues of Sales Tax, Income Tax, Custom duty, Wealth Tax, Service Tax, Excise duty, cess which have not been - deposited on account of any dispute.

x) The Company has no accumulated losses at the end of the financfaiyear arid it has not incurred any cash losses in the current financial year, and immediately preceding financial year.

xi) The Company has not taken any term loan from any financial institution or Bank. The Company does not have any borrowings by way of debentures.

xii) The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. ''

xiii) In our opinion the Company is not a chit fund or a nidhi / mutual benefit fund/society and therefore the provisions of Clause 4

(xiii) of the order are not applicable. * xiv) In respect of dealing in shares, securities, debentures and other investment in our opinion and according to the information and explanations given to us, proper records have been maintained of the transactions and contracts and timely entries have been made therein. The Shares, Securties,debentures and other investments have been held by the Company in its own name.

xv) The Company has not given any guarantee for the loans taken by other parties from any bank or financial institution.

xvi) The Company has not taken the term loans and hence Clause 4(xvi) of the order is not applicable.

xvii) The Company has not raised funds, and hence clause 4(xvii) of the order is not applicable.

xviii) The Company has not made any preferential allotment of shares during the year to parties or Companies covered in the register maintained under Section 301 of the Companies Act, 1956.

xix) The Company has not issued any debenture during the year and therefore Clause (xix) of the aforesaid order is not applicable.

xx) The Company has not raised any money through a public issue during the year.

xxi) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statement and as per 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 AGARWAL MEMANI & CO. Chartered Accountants - Firm Registration No. 317014E ,

(RAJ KUMAR AGARWAL) Place : Kolkata Proprietor Dated : 30th day of May, 2014 Membership No. 53026

Mar 31, 2013

RFPORT on the financial statements

We have audited the accompanying financial statements of SIDDHESWARI GARMENTS LIMITED, Kolkata, which comprise the Balance Sheet as at 31st March,2013, the Statement of Profit and Loss and the Cash Flow statement for the year ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position and financial performance of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the Companies Act* 1956. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Our responsibility is to express an opinion on these financial statements based on our audit We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement "

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

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

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the 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

i. in the case of the balance sheet, of the state of affairs of the Company as at31 March 2013.

ii. in the case of the statement of profit and loss, of the PROFIT for the year ended on that date.

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

1. As required by the Companies Auditor''s Repost) Order, 2003 ("the Order*), as amended, issued by the Central Government of India, in terms of sub-section (4A) of section 227 of the Companies Act 1956, we give In the Annexure a Statement on the matters specified in paragraphs 4 and 5 of the said order.

2. As required by section 227(3) of the Act, we report that:

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

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

c. The Balance Sheet, Statement of Profit and Loss and the Cash Flow Statement dealt with by this Report are in agreement with the books of account;

d. in our opinion, the Balance Sheet, Statement of Profit and Loss and the Cash Flow Statement comply with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956; and

e. on the basis of written representations received from the directors as on 31 March 2Q13, and taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2013, from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956.

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

b) The Company has not carried out physical verification of Fixed Assets during the year under review. Hence discrepancies between physical verification and book records could not be ascertained.

c) There was no substantial disposal of fixed assets during the year.

H) a) The Management has conducted physical verification of inventory at reasonable intervals during the year.

b) The procedures of physical verification of inventory followed by the management are commensurate in relation to the size of the Company and the nature of its business.

c) The Company is maintaining proper records of inventory. As informed, no material discrepancies were noticed on such physical verification.

iii) The Company has not granted or taken loans to / from secured companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956 and hence Clause iii(a), iii(b), iii(c) and iii(d) of paragraph 4 of the aforesaid order is not applicable.

iv) There is an adequate internal control procedure commensurate with the size of the Company and '' the nature of the business, for the purchase of inventory and fixed assets and for the sale of goods and services and we have not observed any continuing failure to correct major weaknesses in such internal control system.

v) According to the information and explanations provided by the management there have been no transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956.

vi) The Company has not accepted any deposit from the public.

vii) The Company has an internal audit system, which in our opinion is commensurate with the size and nature of its business.

viii) The Company is not required to maintain cost records.

ix) a) The Company is regular in depositing undisputed statutory dues including Provident fund, investor education and protection fund, employee''s state Insurance, Income Tax, Sales Tax,

Wealth Tax, Service Tax, Customs duty, Excise duty, cess and other material statutory dues as applicable with the appropriate authorities except Rs,9,008/- to be deposited with Investor Education And Protection Fund. There are no outstanding dues in respect of the above items which are more than six months as at the balance sheet date. No undisputed amount payable in respect of Income tax, Wealth Tax, Service Tax, Sales Tax, Custom duty, Excise duty and cess were in arrears as at the end of the financial year for a period of more than six months from the date they became payable.

b) According to the information and explanations given to us, there are no dues of Sales Tax,

Income Tax, Custom duty, Wealth Tax, Service Tax, Excise duty, cess which have not been deposited on account of any dispute,

x) The Company has no accumulated losses at the end of the financial year and it has not incurred any cash losses in the current financial year, and immediately preceding financial year.

xi) The Company has not taken any term loan from any financial institution or Bank. The Company does not have any borrowings by way of debentures.

xii) The Company has not granted any loans and advances on the basis of security, by way of pledge of shares, debentures and other securities.

xiii) In our opinion the Company is not a chit fund or a nidhi / mutual benefit fund/society and therefore the provisions of Clause 4(xiii) of the order are not applicable.

xiv) in respect of dealing in shares, securities, debentures and other investment in our opinion and according to the information and explanations given to us, proper records have been maintained of the transactions and contracts and timely entries have been made therein. The Shares, Securities, debentures and other investments have been held by the Company in its own name.

xv) The Company has not given any guarantee for the loans taken by other parties from any bank or financial institution.

xvi) The Company has not taken the term loans and hence Clause 4(xvi) of the order is not applicable.

xvii) The Company has not raised funds, and hence clause 4(xvii) of the order is not applicable.

xvii) The Company has not made any preferential allotment of shares during the year to parties or Companies covered in the register maintained under Section 301 of the Companies Act, 1956.

xix) The Company has not issued any debenture during the year and therefore Clause (xix) of the aforesaid order is not applicable.

xx) The Company has not raised any money through a public issue during the year.

xxi) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statement and as per 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 AGARWAL MEMANI & SO.

Chartered Accountants

Firm Registration No. 317014E

(RAJ KUMAR AGARWAL)

Place : Kolkata

Proprietor

Dated : 30th day of May, 2013 Membership No. 53026

Mar 31, 2012

We have audited the attached Balance Sheet of SIDDHESWARI GARMENTS LIMITED, Kolkata, as at 31st March, 2012 and also the statement of Profit and Loss Account 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 accepted in India. Those standard require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

As required by the Companies (Auditor''s Report) order, 2003 issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, we enclose in the Annexure a Statement on the matters specified "in Paragraphs 4 and 5 of the said order.

Further we report that :-

i) We five obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

ii) In our opinion, proper books of account as required by law have been kept by Company so far as appears from our examination of those books;

iii) The balance Sheet and Profit & Loss Account dealt with by this report, are in agreement with the books of account;

iv) In our opinion, the Balance Sheet and Profit & Loss Account dealt with the this report comply with the accounting standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956;

v) On the basis of written representations received from the Directors as on 31st March, 2012 and taken on record by the Board of Directors, we report that none of the directors disqualified as on 31st March, 2012 from being appointed as a erector under of Clause (g) of Sub-Section (i) of Section 274 of the Companies Act, 1956.

5) Subject to the following Notes to the Financial Statements

Note No. 22 regarding Non-provision of short fall in marketable value of Investment to the extent of Rs. 15,939/-

In our opinion, and to the best of our information and according to the explanations given to us, they said account read together with other notes thereon, 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 :-

i) in the case of the Balance Sheet of the state of affairs of the Company, as at 31 st. March, 2012; and

ii) in case of the Profit & Loss Account, of the PROFIT for the year ended on that date. iii) in the case of Cash Flow Statement of the cash flows for the year ended on that date.

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

b) The Company has not carried out physical verification of Fixed Assets during the year under review. Hence discrepancies between physical verification and book records could not be ascertained.

c) There was no substantial disposal of fixed assets during the year.

ii) a) The Management has conducted physical verification of inventory at reasonable intervals during the year.

The procedures of physical verification of inventory followed by the management are commensurate in relation to the size of the Company and the nature of its business.

The Company is maintaining proper records of inventory. As informed, no material discrepancies were noticed on such physical verification.

iii) The Company has not granted or taken loans to/from secured companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956 and hence clause iii(a), iii(b), iii(c) and iii(d) of paragraph 4 of the aforesaid order is not

iv) There Is an adequate internal control procedure commensurate with the size of the Company and the nature of the business, for the purchase of inventory and fixed assets and for the sale of goods and services and we have not observed any continuing failure to correct major weaknesses in such internal control system.

v) According to the information and explanations provided by the management there have been no transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956.

vi) The Company has not accepted any deposit from the public.

vii) The Company has an internal audit system, which in our opinion is commensurate with the size and nature of its business.

viii) The Company is not required to maintain cost records.

Ix) a) The Company is regular in depositing undisputed statutory dues including Provident fund investor education and protection fund, employee''s state Insurance, Income Tax Sales Tax'' Wealth Tax, Service Tax, Customs duty, Excise duty, cess and other material statutory" dues as applicable with the appropriate authorities except Rs,9,008/- to be deposited with Investor Education And Protection Fund. There are no outstanding dues. in respect of the above items which are more than six months as at the balance sheet date. No undisputed amount payable in respect of Income tax, Wealth Tax, Service Tax, Sales Tax, Custom duty Excise duty and cess were in arrears as at the end of the financial year for a period of more than six months from the date they became payable.

b) According to the information and explanations given to us there are no dues of sales Tax Income Tax custom duty wealth Tax Excise duty cess which have not been deposited on account of any dispute,

x) The Company has no accumulated losses at the end of the financial year and it has not incurred any cash losses in the current financial year and immediately preceding financial year.

xi) The company has not taken any term loan from any financial institution or bank The company does not have any borrowings by way do debentures.

xii) The company has not granted any loans and advance on the basis of security by way of pledge of share debentures and other securities.

xiii) In our onion dealing in share securities debentures and other investment in our opinion and according to the information and explanations given to us proper records have been maintained of the transaction and contracts and timely entries have been made therein The shares securities debentures and other investment have been held by the company in its own name.

xv) The Company has not given any guarantee for the loans taken by other parties from any bank or financial institution.

xvi) The Company has not taken loans and hence clause 4 (xvi) of the order is not applicable.

xvii) The Company has raised funds and hence clause 4(xvii) of the order is not applicable. 1956.

xiii) The company has not made any preferential allotment of shares during the year to parties or companies covered in the register maintained under section 301 of the companies Act, 1956. xix) The Company has not issue cranny are

xix) The company has not issued any debenture during the year and there fore clause (xix) of the aforesaid order is not applicable.

xx) The Company has not raised any money through a public issue during the year.

xxi) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statement and as per the information and explanation given by the management we report that no fraud on or by the Company our audit.

For AGARWAt MEMANI & CO.

Chartered Accountants

(RAJ KUMAR AGARWAL),

Proprietor Membership No. 5302b

Place : Kolkata Firm Regn No. 317014E

Dated : the 27th. Day of August, 2012.

Mar 31, 2011

1) We have audited the attached Balance Sheet of SIDDHESWARI GARMENTS LIMITED, Kolkata, as at 31st March, 2011 and also the Profit and Loss Account 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 baaed on our audit.

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

3) As required by the Companies (Auditors Report) order, 2003 issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, we enclose in the Annexure a Statement on the matters specified in Paragraphs 4 and 5 of the said order.

4) Further 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 purposes of our audit;

ii) In our opinion, proper books of account as required by law have been kept by Company so far as appears from our examination of those books;

iii) The balance Sheet and Profit & Loss Account dealt with by this report, are in agreement with the books of account;

iv) In our opinion, the Balance Sheet and Profit & Loss Account dealt with the this report comply with the accounting standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956;

v) On the basis of written representations received from the Directors as on 31st March, 2010 and taken on record by the Board of Directors, we report that none of the directors disqualified as on 31st. March, 2011 from being appointed as a erector under of Clause (g) of Sub-Section (i) of Section 274 of the Companies Act, 1956.

5) In our opinion, and to the best of our information and according to the explanations given to us, the said account read together with other notes thereon, 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 :-

i) in the case of the Balance Sheet of the state of affairs of the Company, as at 31st. March, 2010; and

ii) in case of the Profit & Loss Account, of the Profit for the year ended on that date.

iii) in the case of Cash Flow Statement of the cash flows for the year ended on that date.

ANNEXURE REFERRED TO IN PARAGRAPH (3) OF OUR REPORT OF EVEN DATE

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

b) The Company has not carried out physical verification of Fixed Assets during the year under review. Hence discrepancies between physical verification and book records could not be ascertained.

c) There was no substantial disposal of fixed assets during the year.

ii) a) The Management has conducted physical verification of inventory at reasonable intervals during the year.

b) The procedures of physical verification of inventory followed by the management are commensurate in relation to the size of the Company and the nature of its business.

c) The Company is maintaining proper records of inventory. As informed, no material discrepancies were noticed on such physical verification,

a) According to the information and explanations given to us, the Company has granted unsecured interest free loans to One party covered in the register under Section 301 of the Companies act, 1956 the maximum amount involved during the year and at the year end balance of such loan aggregates to Rs.10,00,0007- and Rs. NIL respectively. However, the Company has not taken any loan from the parties listed in the register maintained U/s.301 of the Companies Act, 1956.

b) As informed by the Management other terms and conditions of above mentioned loans were not prima facie prejudicial to the interest of the Company.

c) In respect of the aforesaid loans the party is repaying the Principal amount as stimulated.

d) In respect of the aforesaid loans, there is no overdue amounts.

iv) There is an adequate internal control procedure commensurate with the size of the Company and the nature of the business, for the purchase of inventory and fixed assets and for the sale of goods and services and we have not observed any continuing failure to correct major weaknesses in such internal control system.

v) According to the information and explanations provided by the management there have been no transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956.

vi) The Company has not accepted any deposit from the public.

vii) The Company has an internal audit system, which in our opinion is commensurate with the size and nature of its business.

viii) The Company is not required to maintain cost records.

ix) a) The Company is 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, Customs duty, Excise duty, cess and other material statutory dues as applicable with the appropriate authorities except Rs,9,008/- to be deposited with Investor Education And Protection Fund. There are no outstanding dues in respect of the above items which are more than six months as at the balance sheet date. No undisputed amount payable in respect of Income tax, Wealth Tax, Service Tax, Sales Tax, Custom duty, Excise duty and cess were in arrears as at the end of the financial year for a period of more than six months from the date they became payable.

b) According to the information and explanations given to us, there are no dues of Sales Tax, Income Tax, Custom duty, Wealth Tax, Service Tax, Excise duty, cess which have not been deposited on account of any dispute,

x) The Company has no accumulated losses at the end of the financial year and it has not incurred any cash losses in the current financial year, and immediately preceding financial year.

xi) The Company has not taken any term loan from any financial institution or Bank. The Company does not have any borrowings by way of debentures.

xii) The Company has not granted any loans and advances on. the basis of security by way of pledge of shares, debentures and other securities.

xiii) In our opinion the Company is not a chit fund or a nidhi / mutual benefit fund/society and therefore the provisions of Clause 4(xiii) of the order are not applicable.

xiv) In respect of dealing in shares, securities, debentures and other investment in our opinion and according to the information and explanations given to us, proper records have been maintained of the transactions and contracts and timely entries have been made therein. The Shares, Securities, debentures and other investments have been held by the Company in its own name.

xv). The Company has not given any guarantee for the loans taken by other parties from any bank or financial institution,

xvi) The Company has not taken the term loans and hence Clause 4(xvi) of the order is not applicable.

xvii) The Company has not raised funds, and hence clause 4(xvii) of the order is not applicable.

xviii) The Company has not made any preferential allotment of shares during the year to parties or Companies covered in the register maintained under Section 301 of the Companies Act, 1956.

xix) The Company has not issued any debenture during the year and therefore Clause (xix) of the aforesaid order is not applicable.

xx) The Company has not raised any money through a public issue during the year.

xxi) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statement and as per 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 AGARWAL MEMANI & CO.

Chartered Accountants

Place Kolkata (RAJ KUMAR AGARWAL)

Proprietor Membership No. 53026

Dated the 27th. Day of August, 2011. Firm Regn No. 317014E

Mar 31, 2010

1) We have audited the attached Balance Sheet of SIDDHESWARI GARMENTS LIMITED, Kolkata, as at 31st March, 2010 and also the Profit and Loss Account 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 baaed on our audit.

4) Further 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 purposes of our audit;

ii) In our opinion, proper books of account as required by law have been kept by Company so far as appears from our examination of those books;

iii) The balance Sheet and Profit & Loss Account dealt with by this report, are in agreement with the books of account;

iv) In our opinion, the Balance Sheet and Profit & Loss Account dealt with the this report comply with the accounting standards referred to in sub-section (3C) of Section 211 of the Companies

Act, 1956;

v) On the basis of written representations received from the Directors as on 31st March, 2010 and taken on record by the Board of Directors, we report that none of the directors disqualified as on 31st. March, 2010 from being appointed as a erector under of Clause (g) of Sub-Section (i) of Section 274 of the Companies Act, 1956.