ఆడిటర్ నివేదిక Surbhi Industries Ltd.

Mar 31, 2024

We have audited the Financial Statements of SURBHI INDUSTRIES LTD ("the Company"), which
comprise the balance sheet as at 31st March 2024, and the statement of profit and loss, (statement of
changes in equity) and statement of cash flows for the year then ended, and notes to the Financial
Statements, including a summary of significant accounting policies and other explanatory information
[hereinafter referred to as "the Financial Statements"].

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 Companies Act, 2013 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, 2023, and its profit/loss, (changes in
equity) and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the Financial Statements in accordance with the Standards on Auditing (SAs)
specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards
are further described in the Auditor''s Responsibilities for the Audit of the 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 together with the ethical requirements that are relevant to our
audit of the Financial Statements under the provisions of the Companies Act, 2013 and the Rules
thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements
and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our opinion.

"Information Other than the Financial Statements and Auditor''s Report Thereon"

The Company''s Board of Directors is responsible for the other information. The other information
comprises the [information included in the X report, but does not include the Financial Statements and
our auditor''s report thereon.

Our opinion on the 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 Financial Statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
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.

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, (changes in equity) and cash flows of
the Company in accordance with the accounting principles generally accepted in India, including the
accounting Standards specified under section 133 of the Act. 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 Statements that give
a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Financial Statements, the Board of Directors 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 the Board of Directors 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 Financial Statements

Our objectives are to obtain reasonable assurance about whether the 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 Financial Statements.

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

a. Identify and assess the risks of material misstatement of the 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.

b. 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 system in place and the operating effectiveness of such controls

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

d. 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 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.

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

Materiality is the magnitude of misstatements in the Financial Statements that, individually or in
aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the
Financial Statements may be influenced. We consider quantitative materiality and qualitative factors in

(i) 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 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 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.

Report on Other Legal and Regulatory Requirements

1. 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 Companies Act, 2013, 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 it appears from our examination of those books [and proper returns adequate for the
purposes of our audit have been received from the branches not visited by us.]

(c) [The reports on the accounts of the branch offices of the Company audited under Section 143(8) of
the Act by branch auditors have been sent to us and have been properly dealt with by us in
preparing this report.]

(d) The Balance Sheet, the Statement of Profit and Loss, (the Statement of Changes in Equity) and the
Cash Flow Statement dealt with by this Report are in agreement with the books of account [and
with the returns received from the branches not visited by us].

(e) 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.

(f) On the basis of the written representations received from the directors as on 31st March, 2023
taken on record by the Board of Directors, none of the directors is disqualified as on 31st March,
2023 from being appointed as a director in terms of Section 164(2) of the Act.

(g) Since the Company''s turnover as per last audited Financial Statements is less than Rs.50 Crores
and its borrowings from banks and financial institutions at any time during the year is less than
Rs.25 Crores, the Company is exempted from getting an audit opinion with respect to the
adequacy of the internal financial controls over financial reporting of the company and the
operating effectiveness of such controls vide notification dated June 13, 2017;

(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, 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 did 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 it''s 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;

ii Based on such audit procedures which we have considered reasonable and
i 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) contain any material mis¬
statement.

e The company has not declared or paid any dividend during the year is in accordance with
section 123 of the Companies Act 2013", Hence clause not applicable.

for GHAEL CHOKSI & COMPANY
Chartered Accountants

Place : SURAT Sd/-

Date : 18/05/2024 VIKRANT BIPINCHANDRA GHAEL

103, 1ST FLOOR, JASH INFINITY, B/H.OLD
SUBJAIL, RING ROAD, SURAT-395002 GUJARAT
0153978W

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Mar 31, 2011

We have audited the attached Balance Sheet of M/S. SURBHI INDUSTRIES LIMITED, SURAT as at 31st March 2011, and Profit & Loss Account for the year ended on that date, attached thereto. These financial statements are the responsibility of company's management. Our responsibility is to express our opinion on these financial statements based on our audit.

We have 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 & disclosures in the financial statements. An Audit also include assessing the accounting principles used and significant as well as evaluating the overall financial statement presentations. We believe that our audit provide a reasonable basis for our opinion.

1. As required by the Companies (Auditor's Report) Order, 2003 issued by the Company Law Board in terms of Section 227(4A) of the Companies Act, 1956, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said Order.

2. Further to our comments in the Annexure referred to in paragraph 1 above :

a. 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.

b. In our opinion, proper books of account as required by the law have been kept by the Company so far as appears from our examination of the books :

c. The Balance Sheet and Profit & Loss Account referred to in the Report are in agreement with the books of account.

d. In our opinion, the Balance Sheet and Profit and Loss Account complies with the requirements of the mandatory accounting standards referred to in Section 211(3C) of the Companies Act. 1956.

e. On the basis of written representation received from the directors of the company, taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March,2011 from being appointed as a director under section 274(1) (g) 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 Balance Sheet and Profit & Loss Account read together with the Notes on Accounts attached herewith give the information required by the Companies Act., 1956 in the manner so required and give a true and fair view:-

(i) In the case of the Balance Sheet, of the State of affairs of the Company as at 31st March, 2011;

(ii) In the case of the Profit & Loss Account, of the Profit of the Company for the year ended on same date and

(iii) In case of the cash flow statement, of the cash flow for the year ended on 31st March, 2011.

ANNEXURE "A" TO AUDITORS REPORT

(i) Fixed Assets :-

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

(b) As explained to us, the fixed assets have been physically verified by the management at reasonable intervals and no material discrepancies with respect to book records were noticed on such verification.

(c) The company has not disposed of the substantial part of fixed assets during the year which affect the going concern assumption.

(ii) Inventory :-

(a) As informed to us, the stocks of finished goods, work-in-process stores, spare parts and raw materials have been physically verified by the management during the year at reasonable intervals.

(b) In our opinion, the procedures of physical verification of stocks followed by the management are adequate and reasonable in relation to the size of the company and nature of its business.

(c) The company has maintained proper records of inventories. The discrepancies noticed on verification of stocks as compared to book records were not material and these have been properly dealt with in the books of account.

(iii) Loans & Advances :-

(a) The Company has not taken unsecured loans from companies, firms or other parties listed in register maintained under section 301 of the Companies Act., 1956.The Company has granted unsecured loan to the Company mentioned under the register maintained under section 301 of the companies Act.,1956. There is one such party. Total amount Debited is Rs.60,43,917/-- and total amount credited is Rs.62,22,917/-.

(b) As per information and explanations given to us, the rate of interest and other terms and conditions, if applicable on loan given are not prima facie prejudicial to the interest of the Company.

(c) The parties to whom loans has been given are repaying the principal amount as stipulated, where ever applicable.

(d) There is no overdue amount of loans given by the company.

(iv) Internal control procedure:-

In our opinion and according to the information and explanations given to us, internal control procedures for the purchase of stores, Raw materials including components plant and machinery, equipment and other assets and for the sale of goods commensurate with the size of the company and nature of its business. During the course of our audit no major weaknesses has been noticed in the internal control.

(v) Transaction with parties u/s 301 :-

(a) The transaction made in pursuance of contracts or arrangements that need to be entered in to the register maintained under sanction 301 of the Companies Act., 1956 have been recorded in register.

(b) There are transactions of purchase & sales of goods, material, lease of building and machinery & services etc. made in pursuance of contracts or arrangement entered in to the register maintained under sanction 301 of the Companies Act., 1956 aggregating during the year to Rs.5,00,000/- or more in respect of each party.

(vi) Public Deposits:-

The Company has not accepted deposits from the public.

(vii) Internal Audit System:-

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

(viii) Cost Records:-

We have broadly reviewed the Books of Account maintained by the Company as prescribed by the Central Government for maintenance cost records under section 209(1)(d) of the Companies Act., 1956, and are of the opinion that prima facie the prescribed accounts and records have been made and maintained. However, we have not carried out a detailed examination of the accounts and records.

(ix) Statutory Dues:-

(a) According to the records of the company, the Company is generally regular in depositing undisputed statutory dues including P.F & E.S.I, Income Tax, Sales Tax, Custom Duty, Excise Duty, Cess and any other statutory dues with appropriate authorities. According to the information and explanations given tc us, there are no undisputed amounts payable in respect of such statutory dues which have remainec outstanding as at 31st March ,2011 for a period more than six months from the date they became payable

(b) According to the information & explanations given to us, there is no disputed amounts payable in respect of such statutory dues.

(x) Accumulated / Cash Losses:-

The company has no accumulated losses and has not incurred cash losses in the current financial year and in the immediately preceding the financial year.

(xi) Default in Repayment of Dues to Banks / Financial Institution etc.:-

The company has not defaulted in repayment of dues to the financial institution or Bank.

(xii) Granting of Loan & Advances:-

The company has not granted Loan & Advances on the basis of securities by way of pledge of shares debenture and other securities.

(xiii) Chit Fund / Nidhi / Mutual Fund:-

The provisions of any Special Statute applicable to Chit Fund, Nidhi, Mutual Benefit Fund/ Societies are no- applicable to the company.

(xiv) Dealing or Trading in Shares etc. :-

As explained to us by the management, the company has purchased shares/securities of the other companies and Co.Op Banks for the investment purpose only. The company is not trading in shares and securities. The Shares held by the company are in its own name.

(xv) Guarantee Given by Company:-

As explained to us by the management, the company has not given guarantee for loans taken by others from banks or financial institution.

(xvi) Utilisation of Term Loans:-

The Term Loans taken by the company were applied for the purpose for which it had been obtained.

(xvii) Application of Short Term Fund for Long Term Investment and vice versa:-

On the basis of our examination of the cash flow statement, the funds raised on short term basis have no- been used for long term investment, as they have been financed out of internal accruals. The Co. has no- raised long term funds. Hence, the used of such funds for short term investment doesn't arise.

(xviii) Preferential Allotment of Shares:-

The Company has not issued any shares during the year.

(xix) Creation of Securities for Debenture Issued:-

The Company has not issued any Debenture during the year.

(xx) End Use of Money:-

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

(xxi) Fraud noticed or Reported:-

As per information & explanation given to us no fraud on or by the company has been notice or reported during the year.

For D. C. Jariwala & Co.

Chartered Accountants

Sd/-

Place : SURAT (D. C. JARIWALA)

Date : 30th June 2011 PROPRIETOR

Membership No. 37990 / FRN 104063W

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Mar 31, 2010

We have audited the attached Balance Sheet of M/S. SURBHI INDUSTRIES LIMITED, SURAT as at 31st March, 2010, and Profit & Loss Account for the year ended on that date attached thereto. These financial statements are the responsibility of company's management. Our responsibility is to express our opinion on these financial statements based on our audit.

We have 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 & disclosures in the financial statements. An Audit also include assessing the accounting principles used and significant as well as evaluating the overall financial statement presentations. we believe that our audit provide a reasonable basis for our opinion.

Statement presentations, We believe that our audit provide a reasonable basis for our opinion.

1. As required by the Companies (Auditor's Report) Order, 2003 issued by the Company Law Board In terms of section 227(4A) of the Companies Act, 1956, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said Order.

2. Further to our comments in the Annexure referred to in paragraph 1 above:

a. 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.

b. In our opinion, proper books of account as required by the law have been kept by the company so far as appears from our examination of the books:

c. The Balance Sheet and Profit & Loss Account referred to in the Report are in agreement with the books of account.

d. In our opinion, the Balance Sheet and Profit and Loss Account complies with the requirements of the mandatory accounting standards referred to in section 211 (3C) of the Companies Act, 1956.

e. On the basis of written representation received from the directors of the company, taken on 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 under section 274(1)(g) 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 Balance Sheet and Profit & Loss Account read together with the Notes on Accounts attached herewith give the information required by the Companies Act, 1956 in the manner so required and give a true and fair view:-

(i) In the case of the Balance Sheet, of the State of affairs of the Company as at 31st March, 2010;

(ii) In the case of the Profit & Loss Account, of the Profit of the Company for the year ended on same date and

(iii) In case of the cash flow statement, of the cash flow for the year ended on 31st March, 2010.

ANNEXURE "A" TO AUDITORS REPORT

(i) Fixed Assets:-

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

(b) As explained to us, the fixed assets have been physically verified by the management at reasonable intervals and no material discrepancies with respect to book records were noticed on such verification.

(c) The company has not disposed of the substantial part of fixed assets during the year which affect the going concern assumption.

(ii)Inventory:-

(a) As informed to us, the stocks of finished goods, work-in-process stores, spare parts and raw materials have been physically verified by the management during the year at reasonable intervals.

(b) In our opinion the procedures of physical verification of stocks followed by the management are adequate and reasonable in relation to the size of the company and nature of its business.

(c) The company has maintained proper records of inventories. The discrepancies noticed on verification of stocks as compared to book records were not maternal and .these have been properly dealt with the books of account.

(iii) Loans & Advances:-

(a) The Company has not taken unsecured loans from companies, firms or other parties listed in register maintained under section 301 of the Companies Act,1958 The Company has granted unsecured loan to the Company mentioned under the register maintained under section 301 of the companies Act 1956. There are two such parties. Total amount Debited: Is Rs .21113804/- and total amount credited is Rs.10603804/-.

(b) As per information and explanations given to us, the rate of interest and other terms and conditions, if applicable on loan given are not prima facie prejudicial to the interest of the Company.

(C) The parties to whom loans has been given are repaying the principal amount as stipulated, where ever applicable.

(d) There is no overdue amount of loans given by the company.

(iv) internal control procedure:-

In our opinion and according to the information and explanations given to us, internal control procedure for the purchase of stores, Raw materials including components plant and machinery, equipment and other assets and for the sale of goods commensurate with the size of the company and nature of its business.

During the course of our audit no major weaknesses has been noticed in the internal control. :

(v) Transaction with parties u/s 301:-

(a) The transaction made in pursuance of contracts or arrangements that need to be entered in to the register maintained under sanction 301 of the Companies Act, 1956 have been recorded in register.

(b) There are transactions of purchase & sales of goods, material, lease of building and machinery & services etc made in pursuance of contracts or arrangement entered in to the register maintained under sanction 301 of the Companies Act,, 1956. aggregating during the year to Rs.5,00,000/- or more in respect of each party.

(vi) Public Deposits:-

The Company has not accepted deposits from the public.

(vii) internal Audit System:-

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

(viii) Cost Records:-

We have broadly reviewed the Books of Account maintained by the Company as prescribed by the Central Government for maintenance cost records under section 209(1)(d) of the Companies Act., 1956, and are of the opinion that prima facie the prescribed accounts and records have been made and maintained.

However, we have not carried out a detailed examination of the accounts and records.

(ix) Statutory Dues:-

(a) According to the records of the company, the company is generally regular in depositing undisputed statutory dues including P.F & E.S.I, Income Tax, Sales Tax, custom Duty, Excise Duty, Cess and any other statutory dues with appropriate authorities. According to the information and explanations given to us, there are no undisputed amounts payable in respect of such statutory dues which have remained outstanding as at 31st March, 2010 for a period more then six months from the date they became payable.

(b) According to the intonation & explanations given to us. there is no disputed amounts payable in respect of such statutory dues.

(x) Accumulated / Cash Losses:-

The company has no accumulated losses and has not incurred cash losses in the current financial year and in the immediately preceding the financial year.

(xi) Default in Repayment of Dues to Banks / Financial Institution etc.:-

The company has not defaulted in repayment of dues to the financial institution or Bank

(xii) Granting of Loan & Advances:-

The company has not granted Loan & Advances on the basis of securities by way of pledge of shares, debenture and other securities.

(xiii) Chit Fund / Nidhi / Mutual Fund:-

The provisions of any special statute applicable to Chit Fund, Nidhi, Mutual Benefit Fund/ Societies are not applicable to the company.

(xiv) Dealing or Trading in shares etc:-

As explained to us by the management, the company has purchased shares / securities of the other companies and Co. Op Banks for the investment purpose only. The company is not trading in shares and securities. The shares held by the company are in its own name.

(xv) Guarantee Given by Company:-

As explained to us by the management, the company has not given guarantee for loans taken by other from banks or financial institution.

(xvi) Utilisation of Term Loans:-

The Term Loans take by the company were applied for the purpose for which it had been obtained.

(xvii) Application of Short Term Fund for Long Term investment and vice versa:-

On the basis of our examination of the cash flow statement, the funds raised on short term basis have not been used for long term investment, as they have been financed out of internal accruals. The Co. has not raised long term funds. Hence, the used of such funds for short term investment doesn't arise.

(xviii) Preferential Allotment of Shares:-

The Company has not issued any shares during the year.

(xix) Creation of Securities for Debenture Issued:-

The Company has not issued any Debenture during the year.

(xx) End Use of Money:-

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

(xxi) Fraud noticed or Reported:-

As per information & explanation given to us no fraud on or by the company has been notice or reported during the year.

For D. C. Jariwala & Co.

Sd/-

Place: SURAT (DEVENDRA JARIWAL)

Date : 28th August 2010 PROPRIETOR

Memberships No. 37990