Report on the Financial Statements

We have audited the accompanying financial statements of CAT Technologies 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 a summary of significant accounting
policies and other explanatory information.

Management’s Responsibility for the Financial Statements

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 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 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 the design, implementation and maintenance of adequate internal financial control
that were operating effectively for ensuring the accuracy and completeness of the accounting
records, 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 have taken into account the provisions of the Act, the accounting and auditing standards
and matters which are required to be included in the audit report under the provisions of the Act
and the Rules made thereunder. We conducted our audit in accordance with the Standards on
Auditing, issued by the Institute of Chartered Accountants of India, as specified under Section
143(10) of the Act. 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 financial control
relevant to the Company’s preparation of the financial statements that give a true and fair view
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 and the effectiveness of such controls. An audit
also includes evaluating the appropriateness of accounting policies used and the reasonableness
of the accounting estimates made by the Company’s Directors, 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 on the financial statements.

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 of
the state of affairs of the Company as at March 31, 2015, its loss, and its 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, 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 1, 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:

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

    

2. 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;

    

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

    

4. 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;

    

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

    

6. 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:

1. The Company does not have any pending litigations which would impact its
   financial position.

    

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

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

For Suresh Gupta .Y & Co.,

Chartered Accountant
Firm Regn No: 009012S

Sd/-

Y.Suresh Gupta

Proprietor
Membership No.209738

Date: 30th May 2015
Place: Hyderabad.

The Annexure referred to in our report to the members of CAT Technologies Ltd (the Company’)
for the year Ended on 31st March 2015. We report that:

1. In respect of the fixed assets of the Company:

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

    

2. The fixed assets were physically verified during the year by the Management in
   accordance with a regular programme of verification which, in our opinion, provides
   for physical verification of the fixed assets at reasonable intervals. According to the
   information and explanations given to us, no material discrepancies were noticed on
   such verification.

I

1. n respect of the inventories of the Company:

1. As explained to us, the inventories were physically verified during the year by the
   Management at reasonable intervals.

    

2. In our opinion and according to the information and explanations given to us, the
   procedures of physical verification of inventories followed by the Management were
   reasonable and adequate in relation to the size of the Company and the nature of
   its business.

    

3. In our opinion and according to the information and explanations given to us,
   the Company has maintained proper records of its inventories and no material
   discrepancies were noticed on physical verification.

2. The Company has not granted any loans, secured or unsecured, to companies, firms or

other parties covered in the Register maintained under Section 189 of the Act.

3. In our opinion and according to the information and explanations given to us, having
   regard to the explanations that some of the items purchased are of special nature and
   suitable alternative sources are not readily available for obtaining comparable quotations,
   there is an adequate internal control system commensurate with the size of the Company
   and the nature of its business with regard to purchase of inventory and fixed assets and
   the sale of goods and services. During the course of our audit, we have not observed any
   major weakness in such internal control system.

    

4. In our opinion and according to the information and explanations given to us, the Company
   has not accepted deposits during the year and does not have any unclaimed deposits.
   Therefore, the provisions of the clause 3 (v) of the Order are not applicable to the Company.

    

5. The provisions of clause 3 (vi) of the Order are not applicable to the Company as the

Company is not covered by the Companies (Cost Records and Audit) Rules, 2014.

6. According to the information and explanations given to us, in respect of statutory dues:

1. The Company has generally been irregular in depositing undisputed statutory dues,
   including Provident Fund, Employees’’ State Insurance, Income Tax, Service Tax,
   and other material statutory dues applicable to it with the appropriate authorities.

    

2. There were no undisputed amounts payable in respect of Provident Fund,

Employees’’ State Insurance, Income Tax, Service Tax, and other material statutory
dues in arrears as at March 31, 2015 for a period of more than six months from the
date they became payable.

2. There were no disputed amount of Income Tax and Service Tax which have not been
   deposited as at March 31, 2015.

    

3. There has no Unclaimed dividends outstanding for more than the specified period,
   hence the Company has not transferred any amount to the Investor Education and
   Protection Fund in accordance with the relevant provisions of the Companies Act,
   1956 and Rules made there under.

7. The company has been in existence for a period of more than Five years and it has not
   incurred cash losses during the financial year and in the immediately preceding financial
   year and the company have accumulated losses.

    

8. According to the records of the Company examined by us and the information and
   explanations given to us, the Company has not defaulted in repayment of dues to any
   financial institution or bank as at the Balance Sheet date.

    

9. The company has not extended any Term Loan or guarantee to its subsidiaries from
   Financial Institutions.

    

10. According to the information and explanations given to us, the Company did not avail any
    term loan during the year.

     

11. To the best of our knowledge and belief and according to the information and explanations
    given to us, no fraud by the Company and no material fraud on the Company has been
    noticed or reported during the year.

For Suresh Gupta .Y & Co.,

Chartered Accountant
Firm Regn No: 009012S

Sd/-

Y.Suresh Gupta

Proprietor
Membership No.209738