We conducted our audit in accordance with the Standards on Auditing issues 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 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 voll 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 {'the order") issued by the Central Government in terms of sub-section (4A) of section 227 of the Act, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.

Further to our comments in the ANNEXURE referred to above 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 purpose of our Audit.

(ii) In our opinion proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books.

(iii) The Balance Sheet, the Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in agreement with the books of account.

(iv) In our opinion, the Balance Sheet, the Statement of Profit and Loss and Cash Flow Statement comply with the Accounting Standards notified under the Companies Act, 1956 read with General Circular 15/2013 dated 13 September 2013, issued by the Ministry of Corporate Affairs, in respect of section 133 of the Companies Act, 2013.

(v) On the basis of the written representation received from the Directors, as on 31st March, 2014 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March, 2014 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of Companies Act, 1956;

(vi) In our opinion and to the best of our information and according to the explanations given to us, the Balance Sheet, Statement of Profit & Loss and Cash Flow Statement 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:

(a) in the case of the Balance Sheet, of the state of affairs of the company as at 31st March, 2014,

(b) in the case of the 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.

Annexure referred to in clause 1 of paragraph on Report on Other Legal and Regulatory Requirements of our report of even date

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

(b) The fixed assets have been physical'y verified by the management during the year at reasonable intervals; which in our opinion is reasonable, having regard to the size of the company and the nature of assets. Physical verification was carried out and this revealed no material discrepancies.

(c) In our opinion, and according to the information and explanation provided to us, no substantial part of the fixed assets belonging to the company has not been disposed off thereby affecting the going concern.

2. (a) The Company has not granted any Loans, secured or unsecured to companies, firms or other Parties covered in the Register maintained under section 301 of The Companies Act, 1956. Accordingly, the provisi -ons of the clauses 4(iii)(a) to (d) of the order are not applicable to the company and hence not commented upon.

(b) The Company has taken unsecured loans 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. 61,96,030/- and the year end balance was Rs. 61,96,030/- (Prev. Yr : Rs. 55,71,030/-).

(c) The rate of interest and other terms and conditions of loans taken are prima facie not prejudicial to the interest of the company.

(d) The company has not paid any amount towards the repayment of the above said loans the same being not due.

3. There is an adequate internal control system commensurate with the size of the Company and the nature of its business, the procedure & policies adopted by the Management ensure smooth functioning thereby preventing errors & frauds..

4. (a) The particulars of contracts or arrangement referred to in Section 301 of the Companies Act, 1956 that need to be entered into the register maintained under section 301 of the Act have been so entered.

(b) According to the information and explanation given to us, there has been no trading activities or any arrangement of similar nature during the year.

5. The company has not accepted deposits from the public, and hence the directives issued by the Reserve Bank of India and the provisions of sections 58A and 58AA of the Act and the rules framed there under, would not apply.

6. The company is not having paid up capital and reserves exceeding Rs. 50 lacs or having Annual Average Turnover exceeding Rs. 5 Crores and hence requirement of having an internal Audit system is not applicable to it.

7. The maintenance of cost records has not been prescribed by the Central Government under clause (d) of sub-section (1) of section 209 of the Act.

8. (a) The company is regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund Education and Protection Fund, Employees' State insurance, Income Tax,Wealth Tax, Custom Duty, Excise Duty, Cess and any other statue dues, extent applicable to it.

(b) There are no dues of Sales Tax/ incorrteOtax/ Cujwffl Duty / Wealth Tax/ Excise Duty/ Cess as at 31st March 2014, for a period of more than six months from the date they became payable.

9. The company's accumulated losses at the end of the year are more than fifty percent of its Networth and the company has incurred a cash loss of Rs. 6,30,524/- during the year (P.Y. Rs. 5,07,060/-)

10. The company has has not taken any loan from Banks or Financial Institution, accordingly disclosure referred to therein clause 4(xi) of the order is not applicable to the company.

11. The company has not granted guarantee for bank guarantees issued by Banks to others.

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

13. In our opinion and according to information and explanations given to us, the company is not a chit fund or a Nidhi Mutual Benefit Fund society. Therefore clause no 4(xiii) of Companies (Auditor's Report) Order, 2003 (as amended) are not applicable to the Company.

14. In our opinion and according to information and explanations given to us, the Company is not dealing in or trading in shares, securities, debentures and other investments. Therefore clause no 4(xiv) of Companies (Auditor's Report) Order, 2003 amended) are not applicable to the Company.

15. In our opinion and according to information and explanations given to us, the company has not given any guarantee for loans taken by others from bank or financial institutions.

16. In our opinion and according to information and explanations given to us, there were no funds raised on term loan basis. Accordingly, the provisions of Clause 4(xvi) of the order are not applicable to the company.

17. The company has not made any preferential allotment of shares to parties or companies covered in the Register maintained under section 301 of the Act.

18. The company has not issued any debentures.

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

20. Based upon the audit procedures performed for the purpose of reporting the true & fair view of the Financial Statements and as per the information and explanations given by the management, we report that no fraud on or by the company has not been noticed or reported during the year.

                                             For: P.JASANI & ASSOCIATES
                                                [Chartered Accountants]
                                                     FRN:-116628W 

P R. JASAN ( Partner) Mem. No. 032477

Place : MUMBAI Date : 29.05.2014