Management's Responsibility for the Financial Statements

The Company's Management is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to 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, read with Rule 7 of the Companies (Accounts) Rules, 2014. 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.

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 Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with the 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 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 the 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 the 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:

(a) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 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 in terms of subsection (11) of section 143 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by Section 143(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 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, 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 specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,2014

Independent Auditor's Opinion

(e) On the basis of the written representations received from the directors as on 31st March, 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015 from being appointed as a director in terms of Section 164(2) of the Act.

ANNEXTURE TO THE AUDITORS REPORT

Referred to in paragraph 1 of our Report on Other Legal & Regulatory Requirements of the Independent Auditors' Report, to the members of the Company on financial statements for the year ended 31 March 2015, we report that:

i. a) The company has maintained memorandum of records to show particulars including quantitative details & situation of its fixed

assets. However comprehensive fixed assets register is being complied.

b) The Fixed assets were physically verified by the management during the year and revealed no discrepancies.

c) During the year the company has disposed off all the tangible fixed assets.

ii. a) The company is a service company does not have any Inventory Thus paragraph 3(ii) of the Order is not applicable

iii. a) According to the information & explanation given to us the company has not granted any loan to the companies or firm or other

parties cover in the register maintained under section 189 of the Companies Act. Thus paragraph 3(iii) - (a), (b) of the CARO, 2015 are not applicable.

iv. In our opinion & according to the information & explanation given to us there exists an adequate internal control procedure commensurate with the size of the company and the nature of its business with regard to fixed assets and for the sales of services. The company does not have any purchase of inventories or sale of goods since it is a service company. During the course of our audit we have not observed any continuing failure to correct major weaknesses in internal control systems.

v. In our opinion and according to the information and explanations given to us the company has not accepted any deposits from public, directives issued by the Reserve Bank of India and the provisions of section 73 to 76 or any other relevant provision of the Companies Act and the Rules framed there under are not applicable. No order has been passed by the Company Law Board or National Company Law tribunal or Reserve Bank of India or any court or any other tribunal.

vi. The maintenance of the cost records has not been prescribed by the central government u/s 148(1) of the Act, for any services rendered by the company.

vii. a) The company is regular in depositing with appropriate authorities undisputed statutory dues like Income Tax and other statutory

dues as represented to us, investors education protection funds, Provident funds, Employees State Insurance Fund, Sales Tax, Excise duty, Cess, Wealth Tax, service Tax, are not applicable to company. The company has not paid any provident fund as it is not due in the opinion of the management. The company is regular in depositing Income Tax and other material statutory dues applicable to it.

b) According to the information & explanation given to us, no undisputed amounts payable in respect of Income Tax, Wealth Tax, Sales Tax, Custom duty, Excise duty & Cess were in arrears as on 31st March, 2015 for a period of more then six months from the date they become payable.

c) According to the information and explanations given to us there are no amounts which were required to be transferred to the Investor Education and Protection Fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules there under.

viii. In our opinion accumulated losses of the company are not more than 50% of its net worth. There is no revenue generation during the year. The company has incurred cash losses in the immediately preceding financial year.

ix. In our opinion and according to the information given to us, the company has not defaulted in repayment of dues to financial institution or bank or debenture holder.

x. The company has not given guarantees for loans taken by others from bank or financial institutions, consequently provisions of clause (x) of paragraph 3 of CARO 2015 are not applicable to company.

xi. Based on our examination of the records and information and explanation given to us, during the year no term loan has been obtained. Consequently the provisions of clause (x) of paragraph 3 of CARO 2015 are not applicable to company.

xii. According to the information & explanation given to us, no fraud on or by the company has been noticed or reported during the course of our audit.

For G.V.Madane & Co. Chartered Accountants

SD/- (G.V. Madane) Partner

PLACE: - PUNE DATE: - 12/05/2015