We conducted our audit in accordance with 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 the management as well 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, issued by the Department of Company Affairs on 12th June 2003 and as amended under Notification dt 25th November 2004 in terms of sub-section (4A) of section 227 of the Companies Act, 1956, we enclose in the annexure a statement on the matters specified in paragraph 4 and 5 of the said Order.

Further to the comments contained in the annexure mentioned in Para 3 above, we state the following:

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 appears from our examination of the books of accounts.

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 and Loss Account dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 subject to

- Non-provision for impairment of the intellectual property rights as required under AS- 26, non provisioning of deferred tax liability under AS- 22.

e. On the basis of the written submission received from the Director as on 30th June, 2011 and taken on record by the Board of Directors we report that none of the Directors are dis-qualified as on 30th June 2011 from being appointed as a Director in terms of clause [g] of sub-section [1] of section 274 of the Companies Act, 1956.

f. In our opinion and to the best of our information and according to the explanation given to us, the said accounts read together with the qualification in para (d) above give a true and fair view with respect to the following

a) In the case of Balance Sheet, of the state of affairs of the Company as at 30th June 2011

b) In the case of the Profit and Loss Account of the Profit for the year ended on that date.

c) Cash Flow statement for the year ended 30th June 2011.

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

b) Most of the fixed assets of the Company have been physically verified.

c) None of the fixed assets have been revalue during the year.

ii) a) There is no physical stock.

b) As the Company does not have any stock, question of physical verification does not arise.

c) As no stock has been held by the Company clause does not apply.

iii) The Company has maintained register under section 301 and updated the register.

iv) In our opinion, and according to the information and explanations given to us, the Company has adequate internal control procedures commensurate with the size of the Company and the nature of its business with regards to purchase of fixed assets and for the sale of goods.

v) The Company has not entered into any transaction with referred to Sec 301of the Companies Act of 1956,.

vi) The Company has not accepted any Fixed Deposits from the public during the year and therefore, the question of compliance with the directives issued by the Reserve Bank of India and the provisions of section 58A and 58AA or any other relevant provisions of the Companies Act,1956 and the rules framed there under does not arise.

Vii) In our opinion, the Company have an adequate Internal Audit System commensurate with its size and nature of its business.

viii) The Central Government has not prescribed the maintenance the cost accounting records by the Company under section 209(1 )(d) of the Act for any of its product.

ix) a) According to the information and explanations given to us, there are no employees covered under PF or ESI Act.

b) As regards the disputed statutory liabilities we are unable to independently verify the existence of the same and we have relied on management representations for the same. With respect to the undisputed taxes the Company has not paid TDS during the financial year.

x) This is the fifth year of the Company's operation and hence this is not applicable.

xi) There are no secured loans; hence the clause relating to repayment does not apply.

xii) No loans or advances have been granted by the Company against pledge of shares and debentures and other securities.

xiii) The Company is not a chit fund or a nidhi mutual benefit fund/society.

xiv) The Company is not dealing in or trading in Shares, Securities, Debentures and other instruments.

xv) According to the information and explanation given to us, the Company has not given any Corporate Guarantee during the year.

xvi) The Company has not received any Term Loan during the year and therefore the question of application for the purpose for which they were obtained does not arise.

xvii) According to the information and explanations give to us and on an overall examination of the Balance Sheet of the Company, we report that no funds raised on short- term basis have been used for long-term investment.

xviii) During the year the Company has not made any preferential allotment to parties and companies covered in the register maintained under Section 301 of the companies act, 1956.

xix) The Company has not issued any debentures during the year and therefore the question of creation of security or charge does not arise.

xx) During the year, the Company has not raised any money by way of public issue and the question of disclosing the end use of money by the management does not arise.

xxi) According to the information and explanations give to us, no fraud on or by the Company was noticed or reported during the course of our audit.

                                                For CNGSN & ASSOCIATES

                                                 Chartered Accountants

                                                        C N GANGADARAN

                                                               Partner

                                                         Memb.No.11205

                                                        F.R.No.004915S

                                           Chennai, 29th February 2012