We have audited the accompanying financial statements of GEE GEE GRANITES LIMITED ("the company") which comprise of Balance Sheet as at 31st March 2013, the Statement of Profit and Loss and Cash Flow Statement for the year ended on that date 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, financial performance and cash flows 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"). This responsibility includes the design, implementation and maintenance of internal controls relevant to the preparation and presentation of financial statements 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 our audit in accordance with the Standard 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 of the financial statements in order to design audit procedure that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of 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 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 Balance Sheet, of the state of affairs of the Company as at March 31, 2013

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

(c) 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") issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in the paragraph 4 & 5 of the 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 accounts 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, and the Cash Flow Statement dealt with by this report are in agreement with the books of accounts.

d. In our opinion, the Balance Sheet, the 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 Act,

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

f. Since the Central Government has not issued any notifications to the rate at which the cess is to be paid under section 441A of the Act nor has it issued any Rules under the said section, prescribing the manner in which such cess is to be paid, no cess is due and payable by the ComDanv.

(AS REFERRED TO IN PARAGRAPH 1 OF PARA ON REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS OF OUR REPORT OF EVEN DATE TO THE MEMBERS OF GEE GEE GRANITES LIMITED)

(i) (a) The company does not have any fixed asset hence the related compliances with respect to the fixed asset is not required to be maintained.

(b) Since the company does not have any fixed asset the question of physical verification does not arise.

(c) Since the company doers not have any fixed asset the question of disposal of substantial part of fixed asset does not arise.

(ii) (a) The company has no inventory hence the related compliance with respect to inventory is not required to be maintained.

(b) The company does not have any inventory, so the adaptation of a method to physical verification of the inventory by the management not required.

(c) The company does not have any inventory, so the requirement of maintaining proper record of inventory does not arise.

(iii) (a) According to the information and explanations given to us, the company has not granted any loans, secured or unsecured to companies, firms or other parties listed in the register maintained under section 301 of the companies act, 1956.

(b) Not applicable in view of para (a) above.

(c) Not applicable in view of para (a) above.

(d) Not applicable in view of para (a) above.

(e) The company had taken loan from 2 parties covered in the register maintained under section 301 of the companies Act, 1956. The maximum amount involved during the year was Rs.16,28,400/- and the year-end balance of loans taken from such parties was Rs.14,28,400/-.

(f) In our opinion, the rate of interest and other terms and conditions on which loans have been taken from companies, firms or other parties listed in the register maintained under section 301 of sthe companies Act, 1956 are not, prima facie, prejudicial to the interest of the company.

(g) The company is regular in repaying the principal amounts as stipulated and has been regular in the payment of interest. The total amount repaid was Rs.0.

(iv) In our opinion and according to the information and explanations given to us, there is adequate internal control procedure commensurate with the size of the company and nature of its Business, for purchase of inventory and fixed assets and for sale of goods and services.

During the course of our audit, we have neither come across nor have been informed of any continuing failure to correct major weakness in the aforesaid internal control procedures. (v) (a) In our opinion and according to the rhTOTrncrtwi and explanations given by the management, there were no contracts or arrangements that need to be entered in the registers required to be maintained under section 301 of the companies Act, 1956.

(b) Not applicable in view of para (a) above. (vi) The company has not accepted any deposits from the public. (vii) In our opinion, the company has an internal audit system commensurate with the size and nature of its business.

(viii) To the best of our knowledge and as explained, the Central Government has not prescribed the maintenance of cost records under section 209 (1) (d) of the Act for the products of the company.

(ix) (a) According to the information and explanations given to us and on the basis our examination of books of accounts, there are no outstanding dues of PF, E.S.I, Gratuity, Income Tax, Wealth Tax, Sales Tax, Customs duty and Excise duty and were regularly deposited with appropriate authority. And there is no undisputed statutory dues for more than 6 months from the date they became payable.

(b) The company has no disputed tax liability, hence clause 4 (ix) of the order is not applicable.

(x) The company has been registered for a period of more than five years and its accumulated losses at the end of the financial year is more than 100% of its net worth. However, its has incurred cash losses in the current Year.

(xi) The Company has no loans from banks or financial institution. Hence question of default does not arise.

(xii) The Company has not granted any loans and advances on the basis of security by way of pledge of shares and debentures and other securities. Accordingly, clause 4(xii) of the order is not applicable.

(xiii) In our opinion and according to the information and explanations given to us, the company is not chit fund / nidhi/mutual benefit fund/society. Accordingly, clause 4 (xiii) of the order is not applicable.

(xiv) In our opinion, the company is not dealing or trading in shares, securities, debentures and other investments, Accordingly, clause 4(xiii) of the order is not applicable.

(xv) In our opinion, and according to the information and explanations given to us, the company has not given any guarantees for loans taken by others from banks or financial institutions.

(xvi) According to the information and explanations given to us, the company has not taken any loans as such.

(xvii) Since the company has no investments Clause 4 (xvii) of the order is not applicable.

(xviii) According to the information and explanations given to us the company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the companies' act, 1956, accordingly, clause 4(xviii) of the order is not applicable.

(xix) The company has not issued any debentures during the year hence question of having security or registering a charge with the Register of companies does not arise during the year.

(xx) The company has not made any public issue during the year; accordingly, clause 4(xx) of the order is not applicable to the company.

(xxi) According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the course of our audit.

                                    For B.P.Jain & Co.,

                                    Chartered Accountants

Place : Chennai                     CA. Devendra Kumar Bhandari

Date : 29.05.2013                   Partner

                                    Membership No : 208862