Standard Shoe Sole and Mould (India) Ltd.की ऑडीटर रिपोर्ट

Mar 31, 2025

Standard Shoe Sole and Mould India Limited

Report on the Audit of the Financial Statements

Opinion

We have audited the accompanying Financial Statements of Standard Shoe Sole and Mould India Limited (‘the Company’), which comprise of the balance sheet as at March 31, 2025, the statement of Profit and Loss (including other comprehensive income), the statement of changes in equity and the statement of cash flows for the year ended on that date, and notes to the financial statements, including a summary of material accounting policies and other explanatory information (hereafter referred to as “the Financial Statements ).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by The Companies Act, 2013 (“The Act”) in the manner so required and give a true and fair view in conformity with the Indian accounting standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015 as amended, (“Ind AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2025, its loss and total comprehensive loss, changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the Financial Statements in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the 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 requirement that are relevant to our audit of the Financial Statements under the provisions of the Act and the rules made there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI s Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on Financial Statements.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Financial Statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. There are no Key AuditMatters to be communicated.

The Company’s management and Board of Directors are responsible for the other information. The other information comprises the information included in the Management Discussion and Analysis, Board’s Report including annexures to Board’s Report, Business Responsibility Report, Corporate Governance and Shareholder’s Information, but does not include the Consolidated Financial Statements, Financial Statements and our auditor’s report thereon.

Our opinion on the 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 Financial Statements, our responsibility is to read the other information and, in doing so, consider whether the 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 misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact. We have nothing to report in this regard.

Management’s, Those Charged with Governance’s and Board of Director’s Responsibility for the Financial Statements

The Company’s management and Board of Directors are responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these 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 accounting principles generally accepted in India, including the accounting Standards specified under section 133 of the Act. 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 Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Financial Statements, Management and Board of Directors are 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 and Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Company’s Board of Directors are responsible for overseeing the Company’s financial reporting process.

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

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

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

• Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to the financial statements 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 and Board of Director’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 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 financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

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

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

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

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give in the “Annexure A”, a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable. 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 account as required by law have been kept by the Company so far as it appears from our examination of those books.

c) The Balance Sheet, the Statement of Profit and Loss including other comprehensive income, the statement of change in equity, and the statement of Cash Flow dealt with by this Report are in agreement with the relevant books of account.

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

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

f) With respect to the other matters to be included in the Auditor’s Report in accordance with the requirements of Section 197(16) of the Act, as amended, in our opinion and to the best of our information and according to the explanations given to us, the remuneration paid by the Company to its directors during the year is in accordance with the provisions of Section 197 of the Act.

g) With respect to the adequacy of the internal financial controls with reference to Financial Statements of the Company and the operating effectiveness of such controls, refer to our separate Report in “Annexure B”. Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the Company’s internal financial controls with reference to the Financial Statements.

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

i. There are no pending litigations as on 31^st March, 2025;

ii. The company did not enter into any long-term contracts during the reporting period. The Company neither entered into any derivative contract during the year nor have any outstanding derivative contract at the end of the year;

iii. There was no requirement to transfer any amount to the Investor Education and Protection Fund by the Company during the year ended March 31, 2025.

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

funds (which are material either individually or in the aggregate) have 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 or entity, including foreign entity (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

(b) The Management has represented, that, to the best of its knowledge and belief,

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

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

v. The company has not proposed/declared and paid any dividend during the year which is subject to the approval of members at the ensuing Annual General Meeting.

vi. Based on our examination, which includes test checks, the Company has used accounting software for maintaining its books of account for the financial year ended March 31, 2025 which has a feature of recording audit trail (edit log) facility and same has operated throughout the year for all relevant transactions recorded in the software. Further, during the course of our audit we did not come across any instance of the audit trail feature being tampered with.

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Mar 31, 2024

1. We have audited the accompanying financial statements of Standard Shoe Sole and Mould
(India) Limited (“the Company”), which comprise the Balance Sheet as at 31^st March 2024, the
Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Cash
Flows, the Statement of Changes in Equity and notes to the financial statements for the year
then ended on that date including a summary of material accounting policies and other
explanatory information (herein after referred to as “ Financial Statements”).

2. In our opinion and to the best of our information and according to the explanations given to us,
the aforesaid financial statements give the information required by the Companies Act, 2013
(“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
March 31, 2024, its loss (including Other Comprehensive Income), changes in equity and its
cash flows for the year ended on that date.

Basis for Opinion

3. We conducted our audit in accordance with the Standards on Auditing (SAs) specified under
section 143(10) of the Act. Our responsibilities under those Standards are further described in
the Auditor’s Responsibilities for the Audit of the 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 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 is
sufficient and appropriate to provide a basis for our opinion.

Material Uncertainty Relating to Going Concern

4. We draw attention to that the Company has accumulated losses and its networth has been fully
eroded. The current liabilities exceed the current assets. These conditions indicate the existence
of a material uncertainty that may cast significant doubt about the Company’s ability to
continue as a going concern. However, as per the information and explanations provided to us,

the management intends to continue the operations of the Company. Accordingly, the financial iH
statements of the Company have been prepared on a going concern basis.

Our opinion is not modified in respect of this matter.

Key Audit Matters

5. Key Audit Matters are those matters that, in our professional judgment, were of most
significance in our audit of the financial statements of the current period. These matters were
addressed in the context of our audit of the financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters. We have
determined that there are no key audit matters to communicate in our report.

Other Information

6. The Company’s Board of Directors is responsible for the other information. The other
information comprises the information included in the Board’s Report including Annexures to
Board Report and Shareholders’ Information but does not include the financial statements and
our auditor’s report thereon. The aforesaid documents are expected to be made available to us
after the date of this auditor’s report.

7. Our opinion on the financial statements does not cover the other information and we do not
express any form of assurance conclusion thereon.

8. In connection with our audit of the financial statements, our responsibility is to read the other
information when it becomes available and, in doing so, consider whether the other information
is materially inconsistent with the financial statements or our knowledge obtained in the audit,
or otherwise appears to be materially misstated.

9. When we read the aforesaid documents, if we conclude that there is a material misstatement
therein, we are required to communicate the matters to those charged with governance

Management’s Responsibility for the Financial Statements

10. 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 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. This responsibility
also includes maintenance of adequate accounting records in accordance with the provisions of
the Act for safeguarding of the assets of the Company and for preventing and detecting frauds
and other irregularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for ensuring
the accuracy and completeness of the accounting records, relevant to the preparation and
presentation of the financial statement that give a true and fair view and are free from material
misstatement, whether due to fraud or error.

11. In preparing the 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.

12. The Board of Directors are also responsible for overseeing the company’s financial reporting
process.

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Auditor’s Responsibility for the Audit of the Financial Statements

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

14. 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 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 control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the
Companies Act, 2013, 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 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 financial statements,
including the disclosures, and whether the financial statements represent the underlying
transactions and events in a manner that achieves fair presentation.

15. 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.

16. 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.

17. From the matters communicated with those charged with governance, we determine those
matters that were of most significance in the audit of the 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 matters or when 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.

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

Report on Other Legal and Regulatory Requirements

19. As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”) issued by the
Central Government of India in terms of sub -section (11) of section 143 of the Act, we give
in the Annexure-A, a statement on the matters specified in paragraphs 3 and 4 of the Order, to
the extent applicable.

20. 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 except for the matters stated in the
paragraph 20 (g) below on reporting under Rule 11(g).

(c) The Balance Sheet, the Statement of Profit and Loss (including other comprehensive
income) and the Cash Flow Statement, Statement of Changes in Equity dealt with by this
report are in agreement with the books of accounts.

(d) In our opinion, the aforesaid financial statements comply with the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts)
Rules, 2014.

(e) On the basis of the written representations received from the directors as on 31^st March,
2024 taken on record by the Board of Directors, none of the directors is disqualified as on
31^st 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”

(g) The adverse remark relating to the maintenance of accounts and other matters connected
therewith are as stated in the paragraph 20 (b) above on reporting under Section 143(3)(b)
and paragraph 20 (i)(f) below on reporting under Rule 11(g).

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

According to the information and explanations given to us and the records of the company
examined by us, the company has not paid any managerial remuneration during the year.

(i) 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:

a. The Company no pending litigations that could impact it’s financial position.

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

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

d. (i) The Management has represented that, to the best of its knowledge and belief, no
funds (which are material either individually or in the aggregate) have been advanced
or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the Company to or in any other person or entity, including
foreign entity (“Intermediaries”), with the understanding, whether recorded in writing
or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest
in other persons or entities identified in any manner whatsoever by or on behalf of the
Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries;

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

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

e. The Company has neither proposed any dividend in the Previous year or in the current
year nor paid any interim dividend during the year.

f. Based on our examination which included test checks, the Company has used
accounting software for maintaining its books of account which does not have a feature
of recording audit trail (edit log) facility.

As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from
April 1, 2023, reporting under Rule 11(g) of the Companies (Audit and Auditors)
Rules, 2014 on preservation of audit trail as per the statutory requirements for record
retention is not applicable for the financial year ended March 31, 2024.

For L. B. Jha & Co.
Chartered Accountants

?s, ^ Firm Registration No.: 301088E

(D. N. Roy)

Place: Kolkata * Partner

Date: 30.05.2024 (Membership No.: 300389)

UDIN: 24300389BKDBKM4356

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Mar 31, 2015

We have audited the accompanying financial statements of Standard Shoe Sole And Mould (india) Limited (the Company), which comprise the balance Sheet as at March 31, 2015, the Statement of Profit and Loss and cash flow Statement' for the. year then ended and summary of significant accounting policies and other explanatory information.

MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS

The Company's Management is responsible for the preparation of these financial statements that give a true-and fair view of the financial position, financial performance and cash flow of the company in accordance with the

Accounting Standards notified under the companies Act, 1956 (the Act) read with the General Circular 05/ 2013 dated 13th September, 2013 of the ministry of corporate affairs in respect of Section 133 of the Companies Act, 2013 and in accordance with the accounting principle generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

AUDITORS' RESPONSIBILITY

Our responsibility is to express an opinion, on these financial statements based on our audit. We conducted out audit in accordance with the Standards on Audit in 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 the disclosures in the financial statements. The procedure selected depend on the auditors judgment, including the assessment of the risk of material misstatement. of the financial statements whether due to fraud or error In making those risk assessments, the auditor consider internal control relevant to the Company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but nor for the purpose of expressing an opinion on the, effectiveness of the Company's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management as-well as evaluating the overall presentation of the financial statement. We believe that the audit evidence we have obtained is support and appropriate to provide a basis for our audit opinion.

OPINION

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

(a) In the case of the Balance Sheet, of the stale of affairs or the Company as at March 31,2015;

(b) In the case of the Statement of Profit and Loss, of the Profit of the company for the year ended On that date; and

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

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

1. As required by the companies (Auditor's Report) Order,2015 (the order) issued by the Central Government of India we give in the Annexure a statement on the matters specified in paragraph 3 of the Order.

2. As required by Section 327(3) static Act, we report that:

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

b. In our opinion, proper books of amount as required by the law have been kept by the company so far as appears from our examination of those books.

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

d. In our opinion, the Balance Sheet, the Statement-of Profit and Loss and the cash flow statement comply with accounting standard notified under the act read with the General Circular 15/2013 dated 13th September, 2013 if the ministry of corporate Act,2013.

For Mukherjee Sanyal & Co

Chartered Accountants

(FRN : 3070398)

Place : Kolkata C.A K.K MUKHERJEE

Date : 23/05/2015 Partner

Membership No. 011435

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Mar 31, 2012

1. We have audited the attached Balance Sheet of Standard Shoe Sole and Mould (India) Limited as at 31st March, 2012 and the related Profit and Loss Account for the year ended as on that date annexed thereto which we have signed under reference to this report. These financial statements are the responsibility of the Company''s management. Our responsibility is to express our opinion on these financial statements based on our audit.

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

3. We report as follows:

As required by the Companies (Auditor''s report) order, 2003 (and as amended) issued by the Central Government of India in terms of section 227(4A) of the Companies Act, 1956, we enclose an Annexure of statement of matters specified in the Said Order.

4. Further to our comments in the Annexure referred to in paragraph 3, above, 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 purposes of our audit. (Refer Notes on Accounts) -

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 and Profit and Loss Account dealt with by this report are in agreement with the books of account.

d) In our opinion, the Balance Sheet and Profit & Loss Account dealt with by this report comply with the applicable accounting standards referred to in sub-section (3C) of Section 211 of the Act. except for AS 15, Accounting for Retirement benefits, (Refer Notes).

e) On the basis of written representation received from the directors and taken on record by the Board of Directors, we report that none of the directors are disqualified as on 3 lEt March, 2012 from being appointed as a director in terms of clause (g) of subsection (1) of Section 274 of the Act.

f) In our opinion and to the best of our information and according to the explanations given to us, the Balance Sheet and Profit & Loss Account read with the Significant Accounting Policies and Notes on Accounts given in Schedule 13 thereon.

- Unsecured loan balances and other balances of advances and creditors not reconciled / confirmed and effect on profit and loss due to adjustment / write off or write back of balances no longer required not ascertained.

Give the information required by the Companies Act, 1956, in the manner so required and show a true and fair view.

[a] in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2012; and

[b] in the case of the Profit & Loss Account, of the profit for the year ended as on that date.

1 [a] The Company has not updated records to show full particulars including quantitative details and situation of the fixed assets.

[b] Physical verification of Fixed Assets was not carried out during the year by the management.

[c] In our opinion, and according to the information and explanations given to us, the Company has not disposed off a substantial part of its fixed assets during the year under report.

2 [a] The Company has not carried any inventory during the year.

[b] Since, the company didn''t carried any inventory so we are not able to comment on the procedures of physical verification of inventory followed by the management.

3 [a] The Company, has not granted/taken any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintained under Section 301 of the Company''s Act 1956.

[b] In view of the above the comments with regard to reasonableness of terms and conditions of the loans and their repayment schedule does not arise.

4. In our opinion in relation to the extent of business during the year and nominal expenses relating to daily office operation, the management feels that elaborate internal audit system is not required.

5. The Company has not accepted any deposits under the provisions of Sections 58 A and 58AA of the Act and the rules framed there under.

6 The Central Government of India has not prescribed the maintenance of cost records under clause [d] of sub section (1) of Section 209 of the Act for any of its products of the Company.

7 [a] During the year under review there was no transaction recorded in the books of the company in respect of Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income Tax, Sales Tax, Wealth Tax, Customs Duty, Excise Duty, Cess and other material statutory dues as applicable, with the appropriate authorities.

[b] In the books there are various old liabilities in regard to various statutory dues being brought forward over the years. In absence of details thereof, we are unable to comment on the status of such dues.

8 The Company has accumulated losses as at 31s1 March, 2012 is more than 50% of its net worth on the given date. The company has not incurred cash losses in the financial year 2011 -12.

9 The Company has entered into an OTS settlement against the dues of banks and financial institutions which has been adjusted in the accounts. (Refer Notes to accounts).

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

11 According to information received and verification of records and documents and as explained to us, the provisions of any special statute applicable to chit fund/mutual benefit fund/societies are not applicable to the Company.

12 In our opinion the Company is not a dealer or trader in shares, securities, debentures and other investments.

13 According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from financial institutions/banks which is prejudicial to the interest of the company.

14 The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act, during the year.

15 The Company has not issued any debentures nor has it created security in respect thereof.

16 The Company has not raised any money through a public issue during the year covered by our audit.

17 During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, nor noticed or reported during the year, nor have we been informed of such case by the management.

For Mukherjee Sanyal & Co.

(Chartered Accountants)

(Kamal Kumar Mukherjee)

Partner

Membership No: 011435

Date: 25/08/2012

Place: Kolkata