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 principal used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

We report as follows:

l) As required by the Companies (Auditors' Report) Order, 2003 issued by the Central Government of India in terms of Section 227(4A) of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 & 5 of the said order.

2) Further to our comments in the Annexure referred to above, we state 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 appears from our examination of these books;

c) The Balance Sheet and the Profit and Loss Account referred to in this report are in agreement with the books of account;

d) In our opinion the Balance Sheet and the Profit & Loss Account comply with the Accounting Standards referred with in Section 21 l(3C) of the Companies Act, 1956;

e) On the basis of the written representations received from the Directors of the Company and taken on record by the Board of Directors, we report that none of the Directors is disqualified as at 31st March, 2015 from being appointed as a Director in terms of Clause (g) of sub section (l) of Section 27-1 of the Companies Act, 1956;

f) In our opinion and to the best of our information and according to the explanations given to us, the said accounts read together with the notes give the information required by the Companies Act, 1956 and in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2015, and

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

ANNEXURE forming part of Audit Report

Re : JAIHIND SYNTHETICS LIMITED.

Referred to in point no. 1 of our report of even date.

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

(b) The Fixed assets have been physically verified by the management at reasonable intervals. We have been informed that no material discrepancies were noticed on such verification.

(c) Substantial part of fixed assets has not been disposed off during the year.

ii. The company does not possess stock in trade of any kind whatsoever. Under these circumstances, the question of:

(a) Physical Verification of stocks;

(b) Procedure for physical verification of stock;

(c) Discrepancies between physical verification of stocks and book records;

(d) Verification and Valuation of stock;

does not arise.

iii. The company has not taken any loans party listed in the register maintained under section 301 of the Act,

iv. In our opinion, there are adequate internal control procedures commensurate with the size of the company and the nature of its business, for the purchase of inventory and fixed assets and for the sale of goods.

v. (a) According to the information & explanations given to us, the transactions that need to be

entered into, a register in pursuance of section 301 of the Act have been so entered.

(b) In our opinion, The Company has not entered into any transactions exceeding the value of five lakhs rupees in respect of any party during the financial year and hence the question of verifying the reasonableness of prices having regard to the prevailing market prices at the relevant time does not arise.

vi. The company has not accepted any deposits from the public.

vii. In our opinion, the company has an internal audit system commensurate with its size and nature of its business.

viii. The Central Government has not prescribed any cost records pursuant to the rules made for the maintenance of cost records under section 209 (l) (d) of the Companies Act, 1956 in relation to the company's business activities,

ix. (a) The company is regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income-tax, Sales-tax, Wealth Tax, Custom Duty, Excise Duty, cess and any other statutory dues with the appropriate authorities wherever applicable.

(b) According to the information & explanations given to us, no undisputed amounts payable in respect of Income-tax, Sales-tax, Wealth Tax, Custom Duty, Excise Duty and cess were in arrears, as at 31st March 2014, for a period of more than 6 months from the date they became payable..

(c) According to the information & explanations given to us, there are no dues of Income-tax, Sales-tax, Wealth Tax, Custom Duty, Excise Duty and cess which have not been deposited on account of any dispute.

x. At the end of the financial year, the Company has accumulated losses and but has not incurred cash loss in the previous financial year.

xi. According to the information & explanations given to us, the company has not taken any loans from financial institution & banks, hence the question of repayment of dues to financial institution & banks does not arise

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

xiii. In our opinion, the Company is not a chit fund or a nidhi/mutual benefit fund/society. Therefore the provisions of clause 4(xiii) of the Companies (Auditor's Report) Order, 2003 are not applicable to the Company,

xiv. In our opinion, the Company does not have dealing in shares, hence the question of maintaining proper records of dealing in or trading in shares, securities, debentures and the securities stands in the name of the company does not arise.

xv. The company has not given any guarantee for loans taken by others from bank or financial institutions.

xvi. The company has not availed of any term loans, hence the question of it being applying for the purpose for which it is obtained does not arise.

xvii. On an overall basis, the funds raised on short-term basis have, prima facie, not been used for long term investment and vice versa.

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

xix. The company has not issued any debentures.

xx. The company has not raised money by public issues during the year.

xxi. Based on the checks carried out by us, any fraud on or by the company has not been noticed or reported during the year.

For Jai Prakash Upadhayay & Co., Chartered Accountants Firm Registration No.125073w

Jai Prakash Upadhayay Proprietor Place: Mumbai Date : 30.05.2015