ఆడిటర్ నివేదిక Eureka Industries Ltd.

Mar 31, 2025

EUREKA INDUSTRIES LIMITED

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the accompanying Standalone financial statements of Eureka Industries Limited (“the Company”), which comprise the balance sheet as at 31st March 2025, and the statement of profit and loss and statement of cash flows for the year then ended, and notes to the standalone financial statements, including a summary of significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone Financial Statements gives the information required by the Companies Act, 2013 (“the ACT”) in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, (“Ind AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March, 2025, and its Profit, total comprehensive income, its cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the Standalone Financial Statements in accordance with the Standard on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Standalone Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the Standalone Financial Statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on Standalone Financial Statement.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the Standalone Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined the matters described below to be the key audit matters to be communicated in our report.

	Sr No	Key Audit Matters	Auditor’s Response
	1.	Revenue Recognition	Principal Audit Procedures
		Revenue from the sale of goods (hereinafter referred to as “Revenue”) is recognised when the Company performs its obligation to its customers and the amount of revenue can be measured reliably and recovery of the consideration is probable. The timing of such recognition in case of sale of goods is when the control over the same is transferred to the customer, which is mainly upon delivery. The timing of revenue recognition is relevant to the reported performance of the Company. The management considers revenue as a key measure for evaluation of performance	Our audit approach was a combination of test of internal controls and substantive procedures including: • Assessing the appropriateness of the Company''s revenue recognition accounting policies in line with Ind AS 115 (“Revenue from Contracts with Customers”) and testing thereof. • Evaluating the design and implementation of Company''s controls in respect of revenue recognition. • Testing the effectiveness of such controls over revenue cut off at year-end. • Testing the supporting documentation for sales transactions recorded during the period closer to the year end and subsequent to the year end, including examination of credit notes issued after the year end to determine whether revenue was recognised in the correct period. • Performing analytical procedures on current year revenue based on monthly trends and where appropriate, conducting further enquiries and testing.

Information other than the financial statements and Auditor’s Report Thereon

• The Company’s management and board of directors are responsible for the preparation of the other information. The other information comprises the information included in the management discussion and analysis, board’s report including annexures to board’s report, business responsibility and sustainability report, corporate governance, tax transparency report and shareholder’s information, but does not include the Standalone Financial Statements, consolidated financial statement and our audit reports thereon. Our opinion on the Standalone Financial Statements does not cover the other information and we do not express any form of assurance conclusion thereon.

• In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the standalone financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

• If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those charged with governance for the Standalone 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 standalone financial statements that give a true and fair view of the financial position, financial performance, including other comprehensive income, cash flows and changes in equity of the Company in accordance with the Ind AS and other accounting principles generally accepted in India. 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 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 statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the Company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the Standalone Financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone Financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Standalone Financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to Standalone Financial statement in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Standalone Financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Standalone Financial statements, including the disclosures, and whether the Standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the Standalone Financial Statements that,

individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone Financial Statements may be influenced.

We consider quantitative materiality and qualitative factors (i) in planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Standalone Financial Statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Standalone Financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Emphasis Of Matter:

1. In the current financial year company has positive profits, however due to operational negative profits in the previous years, company is not liable to pay any taxes towards Income tax Act, 1961 as it has benefit of set off of Losses from the previous years.

2. The Company has issued right shares up to 4,90,00,000 in ratio of 28 rights equity share for every 5 fully paid-up equity share held by eligible equity shareholders, and effect for the same has been reflected in diluted EPS calculation (Note no. 31 of the Financial Statement).

3. Refer to Notes forming part of statement which includes the balance of Trade Payables, Loans including deposits and advances are subject to confirmation from and reconciliation with the relevant parties as on the date of balance sheet date.

Our opinion is not modified with respect to above mentioned matter.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143(3) of the Act, based on our audit, 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 it appears from our examination of those books, except for the matters stated in subclause (2)(h)(F) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014;

(c) The Balance Sheet and the Statement of Profit and Loss, the Statement of Cash Flow and Statement of Changes in Equity 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 Indian Accounting Standards specified under Section 133 of the Act, read with the Companies (Indian Accounting Standards) Rules, 2015, as amended;

(e) On the basis of the written representations received from the directors as on 31st March, 2025 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2025 from being appointed as a director in terms of Section 164 (2) of the Act.

(f) The modification relating to the maintenance of accounts and other matters connected therewith are as stated in the paragraph (b) above on reporting under section 143(3)(b) and in sub-clause (2)(h)(F) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014;

(g) With respect to the adequacy of the internal financial controls with reference to Standalone Financial Statements of the Company and the operating effectiveness of such controls, refer to our separate Report in “Annexure A”. Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the Company’s internal financial controls with reference to the Standalone Financial Statement.

(h) 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, as amended in our opinion and to the best of our information and according to the explanations given to us:

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

b. The Company does not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

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

d. (i) The management has represented that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

(ii) The management has represented, that, to the best of it’s knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been received by the company from any person(s) or entity(ies), including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; and

(iii) Based on the audit procedures performed that have been considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e) of the Companies (Audit and Auditors) Rules, 2014, as provided under (a) and (b) above, contain any material misstatement.

e. The company has not declared or paid any dividend during the year in contravention of the provisions of section 123 of the Companies Act, 2013.

f. Based on our examination which included test checks, we concluded that company has used accounting software for maintaining its books of account which have a feature of recording audit trail (edit log) facility but the same has not been operated throughout the year for all relevant transactions recorded in the respective software:

i. In respect of the Company, the feature of recording audit trail (edit log) facility was not enabled at the database layer to log any direct data changes for all the accounting softwares used for maintaining the books of account.

ii. In respect of the Company, in the absence of coverage of audit trail (edit log) with respect to database level in the independent auditor’s report in relation to controls at the service organisation for accounting software used for preparation of financial statements, which is operated by third- party software service provider, we are unable to comment whether the

audit trail feature of the database level of the said software was enabled and operated throughout the year for all relevant transactions recorded in the software. Further, where audit trail (edit log) facility was enabled and operated, we did not come across any instance of the audit trail feature being tampered with.

2. As required by the Companies (Auditor’s Report) Order, 2020 (“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 B” a statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent applicable.

Date : 13/05/2025 For, V S S B & Associates

Place : Ahmedabad Chartered Accountants

Firm No. 0121356W

(Vishves A. Shah) Partner M. No. 109944 UDIN: 25109944BMGPKJ9153

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Mar 31, 2014

We have audited the accompanying financial statements of EUREKA INDUSTRIES LIMITED, which comprises of Balance Sheet as at March 31, 2014, and the Statement of Profit and Loss and Cash Flow Statement for the year ended and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the financial statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position and financial performance and cash flows of the company in accordance with the Accounting Standards notified under the Companies Act, 1956 ("the Act") (which continue to be applicable in respect of Section 133 of the Companies Act, 2013 in terms of General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs) and in accordance with the accounting principles generally accepted in India. 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 misstatements, 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 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 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 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 March 31, 2014.

b) In the case of the Statement of Profit and Loss, of the Profit for the year ended on that date; and

c) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor''s Report) Order, 2003 issued by the Central Government of India 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 paragraphs 4 and 5 of the said Order.

As required by section 227(3) of the Act, we report that:

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

e) 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.

f) The Balance Sheet, the Statement of Profit and loss and cash flow statement dealt with by this Report are in agreement with the books of account.

g) In our opinion, the Balance Sheet and Statement of Profit and Loss and the cash flow statement comply with the Accounting Standards notified under the Act read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act,2013.

h) On the basis of written representations received from the directors as on March 31, 2014, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2014, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

ANNEXURE TO INDEPENDENT AUDITOR''S REPORT

(Referred to paragraph 1 of "Report on Other Legal and regulatory Requirements" of our report of even date.)

1. During the current year, the company does not have any fixed assets, hence not applicable.

2. The company does not have any inventory and therefore physical verification thereof and maintenance of records are not applicable.

3.a. The company has not granted unsecured loan to any party covered in the Register maintained U/s 301 of the Companies Act, 1956.

b. The Company has not taken any loans from the parties covered in the register maintained U/s 301 of the Companies Act, 1956.

4. In our opinion and according to the information and the explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business, with the regards to sale of services. During the course of our audit no material weaknesses has been noticed in the internal control system.

5. There are no contracts or arrangements referred to in section 301 of the Companies Act, 1956 that need to be entered during the year.

6. The company has not accepted any deposits from the public within the meaning of section 58A and 58AA of the Companies Act, 1956 and the rules framed there under.

7. As per information and explanation given to us the company did not have formal internal audit system however it has adequate internal control system commensurate with size of the company.

8. The provisions of section 209(1) (d) of the Companies Act, 1956 regarding maintenance of cost records are not applicable to the company.

9. According to information and explanations given to us and the records examined by us, company is generally regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees'' state insurance, income tax, sales tax, wealth tax, service tax, custom duty, cess and any other material statutory dues applicable to it.

According to the information and explanations given us, and the records of the company there are no dues of income tax/ sales tax/ wealth tax/ service tax/ custom duty/ excise duty/ cess which have not been deposited on account of disputes.

10. The company has accumulated losses of Rs. 7,45,95,858/- at the end of March 31, 2014. Company has not incurred Cash losses in the Current year.

11. In our opinion and according to the information and explanation given to us the company has not defaulted in repayment of dues to bank or financial institutions.

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

13. The provision of any special statue applicable to chit fund / Nidhi Mutual benefit fund / Societies is not applicable to the company. Therefore, the provisions of clause 4(xiii) of the companies (Auditor''s Report) order, 2003 are not applicable to the company.

14. In our opinion, the company is not a dealer or trader in shares, securities, debentures and other investments. Accordingly, the provisions of Clause 4 (xiv) of the companies (Auditors Report) order 2003 (as amended) are not applicable to the Company.

15. As per explanations and information given to us the company has not given any guarantee for loans taken by others from banks or financial institutions.

16. The company has not raised any term loans during the year.

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

18. The company has not made any preferential allotment of shares during the year.

19. The company has not issued any Debentures and hence, the question or creating securities or charges in respect thereof does not arise.

20. The Company has not raised any money by way of public issues during the year.

21. Based upon the Audit procedures performed for the purpose of reporting the true and fair view of the financial statement and as per the information and explanations given to us by the management, we report, no fraud on or by the company has been noticed or reported during the course of our audit.

For Kothari Sangawat & Associates. Chartered Accountants F.R.No - 132985W

Sd/- Sunil Kothari Place : Ahmedabad Partner Date : May 30, 2014. M.No.- 104384

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Mar 31, 2012

1. We have audited the attached Balance Sheet of EUREKA INDUSTRIES LIMITED as at 31st March, 2012 and also the Profit & Loss Statement and cash flow statement for the year ended on that date annexed thereto. These financial statements are the responsiouity of the Company's Management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the 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 disclosure in the financial statements. An audit also includes assessing the accounting principles 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.

3. As required by the Companies (Auditor's Report) orders, 2003, issued by the Central Government in terms of Section 227(4A) of the Companies Act, 1956 and on the basis of such checks as we considered appropriate, and according to information and explanation given to us, we enclose in the Annexure a statement on the matters specified in paragraph 4 & 5 of the said order.

4. Further to our comments in the Annexure referred to in paragraph 3 above, we report that:

(I) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit;

(II) In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books;

(III) The Balance Sheet, Profit and Loss Statement and Cash Flow Statement dealt with by this report are in agreement with the

books of accounts;

(IV) In our opinion, the Balance Sheet, Profit and Loss Statement and Cash Flow Statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956.

(V) On the basis of written representations received from the directors and taken on the record by the Board of Directors, in the board meeting, we report that none of the Directors is disqualified from being appointed as a Director in terms of clause (g) of sub section (1) of Section 274 of the companies Act, 1956.

(VI) In our opinion and to the best of information and according to the explanations given to us, the accounts read with the notes thereon, and subject to third party confirmation, give the information required by the Companies' Act, 1956 in the manner so required and give a true and fair view of and in conformity with the Accounting Principles generally accepted in India

a. In the Case of Balance Sheet, of the state of affairs of the Company as at 31st March, 2012.

b. In the case of the Profit and Loss Statement of the Loss of the company for the year ended on that date.

c. In the case of Cash Flow Statement of the cash flows for the year ended on that date.

ANNEXURE

Referred to in paragraph 3 of Our Report of even date

1. During the current year, the company does not have any fixed assets, hence not applicable.

2. The company does not have any inventory and therefore physical verification thereof and maintenance of records are not applicable.

3.

a. The company has not granted unsecured loan to any party covered in the Register maintained U/s 301 of the Companies Act, 1956.

b. The Company has not taken any loans from the parties covered in the register maintained U/s 301 of the Companies Act, 1956.

4. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business, with regards to sale of goods.

During the course of our audit no material weaknesses has been noticed in the internal control system.

5. There are no contract or arrangements referred to in section 301 of the Companies Act, 1956 that need to be entered during the year.

6. The company has not accepted any deposits from the public within the meaning of section 58A and 58AA of the Companies Act, 1956 and the rules framed there under.

7. As per information and explanations given to us the company did not have formal internal audit system however it has adequate internal control system commensurate with size of the company.

8. The provisions of section 209(1) (d) of the Companies Act, 1956 regarding maintenance of cost records is not applicable to the company.

9. According to information and explanations given to us and the records examined by us, company is generally regular in depositing with appropriate authorities undisputed statutory dues including provident fund, employees* state insurance, income tax, sales tax, wealth tax, service tax, custom duty, cess and any other material statutory dues applicable to it.

According to the information and explanations given us, and the records of the company there are no dues of income tax/ sales tax/ wealth tax/ service tax/ custom duty/ excise duty/ cess which have not been deposited on account of disputes.

10. The company has accumulated losses of Rs.75,285,606/- at the end of 31st March, 2012 and has incurred cash loss of Rs.1,334,217/- in the current year.

11. In our opinion and according to the information and explanations given to us the company has not defaulted in repayment of dues to bank or financial institutions.

12. The basis of security by way of pledge of shares, debentures and other securities.

13. The provision of any special statue applicable to chit fund / Nidhi / Mutual benefit fund / Societies is not applicable to the company. Therefore, the provisions of clause 4(xiii) of the companies (Auditor's Report) order, 2003 are not applicable to the company.

14. In our opinion, the company is not a dealer or trader in shares, securities, debentures and other investments. Accordingly, the provisions of Clause 4 (xiv) of the companies (Auditors Report) order 2003 (as amended) are not applicable to the Company.

15. As per information and explanations given to us, the company has not given any guarantee for loans taken by others from banks or financial institutions.

16. The company has not raised any term loans during the year.

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

18. The company has not made any preferential allotment of shares during the year.

19. The company has not issued any Debentures and hence, the question or creating securities or charges in respect thereof does not arise.

20. The Company has not raised any money by way of public issues during the year.

21. Based upon the Audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given to us by the management, we report, no fraud on or by the company has been noticed or reported during the course of our audit.

For Jain Jitendra & Co.

Chartered Accountants

Firm Reg. No. 113085W

(Jitendra Jain)

Place : Ahmedabad Proprietor

Date : 30/05/2012 M. No. 046309

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Mar 31, 2010

1. We have audited the attached Balance Sheet of EUREKA INDUSTRIES LIMITED as at 31st March, 2010 and also the Profit & Loss Account and cash flow statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys Management. Our responsibility is to express an opinion on these financial statements based on our audit.

2. We conducted our audit in accordance with the 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 disclosure in the financial statements. An audit also includes assessing the accounting principles 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.

3. As required by the Companies (Auditors Report) orders, 2003, issued by the Central Government in terms of Section 227(4A) of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraph 4 & 5 of the said order to the extent applicable.

4. Further to our comments in the Annexure referred to in paragraph 3 above, we report that

(I) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit;

(II) In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books;

(III) The Balance Sheet and the Profit and Loss account dealt with by this report are in agreement with the books of accounts.

(IV) 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.

(V) On the basis of written representations received from the Directors, as on 31st March 2010 and taken on the record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March 2010 from being appointed as a Director in terms of clause (g) of sub section (1) of Section 274 of the companies Act, 1956.

(VI) In our opinion and to the best of information and according to the explanations given to us, the said accounts give the information required by the Companies Act, 1956 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 Balance Sheet, of the state of affairs of the Company as at 31st March, 2010.

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

c. In the case of Cash Flow Statement, of the cash flows for the year ended on that date.

[Referred to in paragraph 3 of the Auditors Report of even date to the members of Eureka Industries Limited on the Financial Statements for the year ended 31st March 2010]

1. During the current year, the company does not have any fixed assets, hence not applicable.

2. The company does not have any inventory and therefore physical verification thereof and maintenance of records are not applicable and the book records were not material.

3. a) The company has taken unsecured loans from the companies covered in the Register maintained

U/s 301 of the Companies Act, the balance as on 31st March, 2010 was Rs. 90,000/-. No interest is paid on the loans taken. There is repayment made of principal amount during the year.

b) As informed, the company has not granted any loans, secured or unsecured to companies, firm or other parties covered in the register maintained U/s 301 of the Companies Act, 1956. Accordingly, the provision of clause 4(iii)(b), 4(iii)(c), 4(iii)(d) of the companies (Auditors Report) order 2003 (as amended) are not applicable to the company.

4. In our opinion and according to the information and the explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business, with the regards to sale of services. During the course of our audit no material weaknesses as been noticed in the internal control system.

5. There are no contract or arrangements referred to in section 301 of the Companies Act, 1956 during the year.

6. The company has not accepted any deposits from the public within the meaning of section 58A and 58AA of the Companies Act, 1956 and the rules framed there under.

7. The company has an internal audit system, which in our opinion is commensurate with its size and nature of the business.

8. No cost records under section 209(1) (d) of the Companies Act, 1956 are applicable as there is no manufacturing activity.

9. According to the records provided to us the company has no Provident Fund, VAT, Excise Duty, Custom Duty, Wealth Tax, Service Tax etc. are payable.

10. The company has accumulated losses of Rs.7,40,16,276/- at the end of 31st March, 2010 and it has earned Cash Profit of Rs.117,195/- in the current year and has earned cash profit of Rs. 160,86,738/ - immediately preceding financial year.

11. Based on our verification and according to the information and explanations given by the management, the company has not availed any Bank Loans during the year and there is no Bank Loans outstanding.

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

13. The provision of any special statue applicable to chit fund / Nidhi / Mutual benefit fund / Societies is not applicable to the company. Therefore, the provisions of clause 4(xiii) of the companies (Auditors Report) order, 2003 are not applicable to the company.

14. In our opinion, the company is not a dealer or trader in shares, securities, debentures and other investments. Accordingly, the provisions of Clause 4 (xiv) of the companies (Auditors Report) order 2003 (as amended) are not applicable to the Company.

15. As per explanations and information provided to us the company has not given any guarantee for loans taken by others from banks or financial institutions during the year.

16. The company has not obtained term loans during the year.

17. On the basis of an overall examination of the Balance Sheet of the company, in our opinion, there are no funds raised on a short-term basis, which have been used for long-term investment, and vice versa.

18. The company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act, 1956.

19. According to the information and explanation given to us, during the period covered by our Audit Report, Company had not issued Debentures. Accordingly clause 4(xix) of the order is not applicable..

20. The Company has not raised any funds by public issue during the year.

21. Based upon the Audit procedures adopted and information and explanations given to us by the management, we report, no fraud on or by the company has been noticed or reported during the course of our audit.

For & On Behalf of JAIN JITENDRA & CO. Chartered Accountants

Firm Reg. No. 113085 W

(CA Jitendra Jain)

Place: Ahmedabad Proprietor

Date: 30/05/2010 Membership No. 046309

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Mar 31, 2009

1. We have audited the attached Balance Sheet of EUREKA INDUSTRIES LIMITED as at 31st March, 2009 and also the Profit & Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys Management. Our responsibility is to express an opinion on these Financial statements based on our audit.

2. We conducted our audit in accordance with the 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 disclosure in the financial statements. An audit also includes assessing the accounting principles 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.

3. As required by the Companies (Auditors Report) orders, 2003, issued by the Central Government in terms of Section 227(4A) of the Companies Act, 1956, we enclosed in the Annexure a statement on the matters specified in paragraph 4 & 5 of the said order to the extent applicable.

4. Further to our comments in the Annexure referred to in paragraph 3 above, we report that

(I) We have obtained all the information and explanations, which to the best of his knowledge and belief were necessary for the purpose of our audit;

(II) 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;

(III) The Balance Sheet and the Profit and Loss account dealt with by this report are in agreement with the books of account.

(IV) 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.

(V) On the basis of written representations received from the Directors, as on 31st March 2009 and taken on the record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March 2009 from being appointed as a Director in terms of clause (g) of sub section (1) of Section 274 of the companies Act, 1956.

(VI) In our opinion and to the best of information and according to the explanations given to us, the said accounts give the information required by the Companies Act, 1956 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 Balance Sheet, of the state of affairs of the Company as at 31st March, 2009

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

[Referred to in paragraph 3 of the Auditors Report of even date to the members of Eureka Industries Limited on the Financial Statements for the year ended 31st March 2009]

1. During the current year, the company does not have any fixed assets, hence not applicable.

2. The company does not have any inventory and therefore physical verification thereof and maintenance of records are not applicable and the book records were not material.

3. a) The company has taken unsecured loans from the companies covered in the Register maintained U/s 301 of the Companies Act, the balance as on 31st March, 2009 was Rs.32,00,914/- No interest is paid on the loans taken. There is no repayment made of principal amount during the year.

b) As informed, the comany has not granted any loans, secured or unsecured to companies, firm or other parties covered in the register maintained U/s 301 of the Companies Act, 1956. Accordingly, the provision of clause 4(iii)(b), 4(iii)(c), 4(iii)(d) of the companies (Auditors Report) order 2003 (as amended) are not applicable to the company.

4. |n our opinion and according to the information and the explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business, with the regards to sale of services. During the course of our audit no material weaknesses as been noticed in the internal control system.

5. There are no contract or arrangements referred to in section 301 of the Companies Act, 1956 during the year.

6. The company has not accepted any deposits from the public within the meaning of section 58A and 58AA of the Companies Act, 1956 and the rules framed there under.

7. The company as an internal audit system, which in our opinion is commensurate with its size and nature of the business.

8. No cost records undre section 209(1 )(d) ofthe Companies Act, 1956 are applicable as there is no manufacturing activity.

9. According to the records provided to us the company has no Provident Fund, VAT, Excise Duty, Custom Duty, Wealth Tax, Service Tax etc. are payable.

10. The company has accumulated losses of Rs.7,41,33,471/- at the end of 31st March, 2009 and it has earned Cash Profit of Rs. 1,60,86,738/- in the current year and incured cash losses of Rs.1,91,070/- in the immediately preceding financial year.

11. Based on our verification and according to the information and explanations given by the management, the company has not availed any Bank Loans during the year and there is no Bank Loans oustanding.

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

13. The provision of any special statue applicable to chit fund / Nidhi / Mutual benefit fund / Societies are not applicable to the company. Therefore, the provisions of clause 4(xiii) of the companies (Auditors Report) order, 2003 are not applicable to the company.

14. In our opinion, the company is not a dealer or trader in shares, securities, debentures and other investments. Accordingly, the provisions of Clause 4 (xiv) of the companies (Auditors Report) order 2003 (as amended) are not applicable to the Company.

15. As per explanations and information provided to us the company has not given any guarantee for loans taken by others from banks or financial institutions during the year.

16. The company has not obtained term loans during the year.

17. On the basis of an overall examination of the Balance Sheet of the company, in our opinion, there are no funds raised on a short-term basis, which have been used for long-term investment, and vice versa.

18. The company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Companies Act, 1956.

19. According to the information and explanation given to us, during the period covered by our Audit Report, Company had not issued Debentures. Accordingly clause 4(xix) of the order is not applicable..

20. The Company has not raised any funds by public issue during the year.

21. Based upon the Audit procedures adopted and information and explanations given to us by the management, we report, no fraud on or by the company has been noticed or reported during the course of our audit.

For & On Behalf of JAIN JITENDRA & CO. Chartered Accountants

CA Jitendra Jain Place: Ahmedabad Proprietor

Date : 29/06/2009 Membership No. 046309