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 the preparation of these standalone financial statements that give a true and fair view of the financial position & financial performance 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 (Account) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding 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 design, implementation and maintenance of adequate internal financial controls, 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.

Auditors' 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 there under.

We conducted our audit in accordance with the Standards on Auditing 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 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 operating effectiveness of these controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by 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 on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid 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 and 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 sub section (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, to the extent applicable.

2 As required by section 143(3) of the Act, we report that :

a. We have sought and 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 those books.

c. The Balance Sheet, the 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 aforesaid standalone financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014

e. On the basis of the written representations received from the directors as on March 31, 2015, 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.

ANNEXURE TO THE INDEPENDENT AUDITORS REPORT (Referred to in paragraph 1 under Rs,Report on Other Legal and Regulatory Requirements' section of our report of even date)

1. The company did not have any assets during the year consequently sub-clauses (a) and (b) of clause (i) of Section 3 of the order are not applicable

2. The company does not have any inventory, consequently sub-clauses (a) to (c) of clause (ii) of Section 3 of the order are not applicable.

3. The Company has not granted any secured/ unsecured loan to Companies, firms or other parties covered in the register maintained u/s 189 of the Act.

4. The company has not purchased any Fixed Assets or Inventory during the year consequently clause (iv) of Section 3 of the order is not applicable. On the basis of our examination of the books and records of the Company and according to the information and explanations given to us, we have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control system.

5. The Company has not accepted any deposits from the public.

6. The Central Government has not prescribed maintenance of cost records under section 148(1) of the Act, for any of the services rendered by the Company.

a) According to the information and explanations given to us, the provisions of the Provident Fund Act and the Employees' State Insurance Act do not apply to the Company. According to the information and explanations given to us, no undisputed amounts payable in respect of any of the statutory dues were in arrears as at 31st March, 2015 for a period of more than six months from the date they became payable.

b) According to the information and explanations given to us and the records of the Company, examined by us there are no dues of Income Tax, Wealth Tax, duty of Excise, Value Added Tax and Cess as at 31st March 2015, which have not been deposited on Account of any dispute.

c) The company has not transferred any amount to the Investor Education and Protection Fund.

7. The company is not required to maintain cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act.

8. The Company has an accumulated loss as at 31st March 2015 and its accumulated losses at the end of the year are more than 50% of its net worth and it has also incurred cash losses in the financial year ended on that date and in the immediately preceding financial year.

9. The company does not have any outstanding Loan or debenture or dues to Financial Institutions or Banks and consequently clause (ix) of Section 3 is not applicable

10. The Company has not given guarantee for loans taken by others from bank.

11. According to the information and explanations given to us no term loans have been obtained by the Company during the year.

12. During the course of our examination of the books and records of the Company, carried out in accordance with the generally

accepted accounting practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management

For R DEVARAJAN & CO

Chartered Accountants

FRN : 102415W

S V SUBRAMANIAM

Partner

M No : 036157

Mumbai

Dated : May 30, 2015