Keynote Fincorp Pvt Ltd by alicejenny

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									         ABHISHEKFINANCEAND INVESTMENTPRIVATELIMITED
          Regd.
              office: The Ruby.gth
                                 Floor.Senapati
                                             Bapat Marg,Dadar
                                                            (west),Murnbai
                                                                         40002g,
                        Tel.No.(022)-30266000 I: kfl@kevnoteind
                                            E-rnai            ia.net



                                   DIRECf'OR'S REPORT
 T'o,
 l'he Shareholders Abhishek Finance and Investmenr privare Limited.
                 of

 Your l)irectors are pleased to present their Annual Report together wtth Audtted Accour-rts and
 Statementfor the year ended on the 31" Nfarch,2012.

        1.. BUSINESS ACTIVITY:

 l'he c.mpa.v's fi'a'cial resr,rlt the vear ended o. the 31" N{arch
                                 for                                     2012 asunder:
                                                                            is

          Particulars                                                      CurrentYear    PreviousYear
                                                                            (31-03-2012)   (31-03-2011)
                                                                                 (in Rs.)       (in Rs.)
         T'otal lleceipts                                                     95,092.00              0
         Profi r/ (Loss) before Depreciation                                 (1s4,920.00)            (l
         Depreciation                                                               0.00             0
         Profi t/ (loss)before Tax                                          (154,920.00)             t,
             A. Provision For lncome Tax                                            0.0t)            0
             b. l)eferred'l'ax Assets/I-iabilir.ies                                 0.00             0
             c. Irlinge Benefit'I'ax                                                0.00             0

         Profit /(Loss) at'rertax                                            (154,920.00)
         Profit/(Loss) brought for-ward from previous ycar (s)                 53.153.00             53,153.00
         Balancecarricd to the BalanceShecr                                  (101,767.00)            53,153.00
2. DIVTDEND:

Duc to nor-r availabilitr, of distriburable profits, 1,our clirectors do not recontrnend a11vcliyidc'ci tor t[c
tlnancial vear.

3. AUDITORS        AND THEIR       REPORT

N{/s lt.S. Phadke & co. chartered Accounta.ts, the Auditors of the companv are retiring at the
conciusion oi the ensuing Annual General N{eeting of the compan),, and shown iheir trnu,ilhngness           rr>
continLle as Auditors wrth the Company dr.re to thcir other commitment, hcnce company wishes to
irppoint N{/s' .Ja1'esh Dadia ct Co. Cl-ra'-tered Accountants and being ehgible otfer themselr-es ior
reappollltnlent as .\uditors. Thc Ooutpanr, has rcceir.cclccrtificate to the cffcct that their appoir1tment, if
nrade.rvor-rld wrthin the limit presclibed undcr Scctio 224 (1B) of thc Companies ,\ct, 1956.
              be                                         n

The Auditor's Report is self-explanarory
                                       anclneeds no clarification.

4. PARTICULARS          OF EMPLOYEES

During the r-earunder rer.iew, the Company did not have any cmployec attracting provisions of Section
211 (24) of the Cornpanics ct, 1956.
                           A

5. PUBLIC DEPOSITS

'['he
   cornpanv has not acceptcd anv Public Deposit as pcr the pror.isiorls of Sectior-r 58'\ <-'f thc
Companies r\ct, 1956.
    6, CONSERVATION OF ENERGY, TECHNOLOGY                                 ABSORPTION          AND    FOREIGN
    EXCHANGE EARNINGS AND OUTGO;
/
                                                                    arc nil.
    I)articulars presctibcd u/s 217 (1)(e)oithe Companics Act, 195(r,
                as

    7. DIRECTORS'       RESPONSIBILITY          STATEMENT:

    Your directors state th?rt:

        f . in prcpararion oi Annual r\ccounts the applicablc accountins standards havc bccn follorved
            alongwith propcr cxplanation rclating to material dcparture thercrtrom.

                                                pr>licics
        2. ther, hacl selcctcclsuch accr.,unrir-rg       and applicclthcm constandl' 21-t6 madc judgmcnts ancl
           cstirnatcsthat are reasonableancl prudcnt so 2lst() give a truc nnd thir vicrv ttf thc state of affairs
           oI thc con-rp^nvat the cnd of tl-rctlnancial ycar and that of protit of the compalrv for th:rt pcriod.

                                                                                          recr>rcls as t()
        3. thet' had taken proper and sufficient care oF maintcnanceoF adequateaccr>untitrg       so
                                                               and irreitr.rlarities.
           safeguard the companv's assetsand to clctect frar.rcl

        +. thev have prepared thc annual accountsof the cornpan\'()n a going concern basls.

    8. DIRECTORS:

    l)urir-rg thc vcar under revieu' the followine r\dditional l)ircctors ha.,'cbcen appointed:

            l.    Anoointment of Additional Directors during the vear:

            (,       Mr. Subbarao Peteti and NIr.JanakiramSubra Nlani, has appointed as Addrtional l)irectors
                     in the Companl, rvith effcct frorn 16-01-2012,subjcct to the approval of shareholdersin
                     the cr-rsuing'\nrrual ClcneralNfecting to be made fbr re-appointing them as Directors, and
                     rcsolurion to be passedunclerSection25T <>lthe Comparrres   '\ct, 1956.

            (iD      Nfr. Suraj Saraogi, NIr. \rir-reetSuchanti and NIr. r\rnit llurnar ltungta has been appointcd
                     as '\dditional Dircctors in the Company rvith ettcct frorn 07-05-2()1,2,        subject to the
                     approval oi sharcholders in the ensuing Annual General N'Ieeting to be n-rade fr>r re-
                     appr>ir-rring    thern as Dircctors, and rcsolution to bc passcclundcr Sectictn 257 of thc
                     C o m p a n i e sA c t , 1 9 5 6 .

            L     Resisnation of Directors durins the vear:

            (t)      N{r. Subbarao Pereti rvas appointecl as aclditional Director of thc Cc>m1>an1' the Roard
                                                                                                 at
                     mceting helcl or-r 16-01-2012,he has shou'n his unrvillingncssto continue on the lloard
                     duc to his prcssing acaclcrniccommitmcr-rtsand other professiotral cngagements,l}oard
                     accepted his resignation at thc mecdng hcld on 25-06-2()12 and piaces thcir kind
                     appreciationfor thc scnices rendercd b_v                thc
                                                              him torvarc'ls Companv.

            (iD      NIr. I(amalkurnar Bakliwal and lVIr. \/ijar,F. Pahade were appointecl as additional Directors
                     of thc Oompany at thc Board meeting helcl on 16-06-2005,due to their pressing academic
                     comntitrnents ancl other profcssional engagelnents,   thev had shown thcir unw'rllingness  t()
                     continue on the lloard, and Board acccptcd their resignaLion the mectir-rg
                                                                                     at               held on 07
                     05-2012 and placcs thcir kind apprcciatiolrfbr thc sctviccs rcndcred bv them tou,ards the
                     (-otnpant'.
i   10. ACKNO$TLEDGEMENT:

    'l'he
         Board wishes to expresstheir sinceregratitude for the conlinued co-operation! encouragementand
    support cxtcndcd by the shareholders,financial institutrons and bankers of the compan\,. The Board also
    wishes to express their deep appreciation of the dedicated sen.icesof the ofhcers, statTand rvorkers of
    the comoanrr.



                                                 For & on behalf of the Board of Directors
                                                 Abhishek Finance and Investment Private Limited

                                                                              n             , --,f'

                                                                 Y
                                                                              \.\   .,, {      12

                                                                               Xru'.-
    Place: Mumbai                                Surai Saraogi                Amit Rungta
    Date : 30'hJune,2012.                         Director                    Directot
                       ABHISHEKFINANCEAND INVESTMENT    PRIVATE LIMITED
                              BalanceSheetAs at 31st.March 2012
                                                                                              Amt. in Rs.
                                                     Note      As at 31st.               As at 31st.
                      Particulars
                                                     No.       March 2012                March2011
   EQUITYANDLIABILITIES

   Shareholders'funds
     Sharecapital                                       1          5,000,000                    5,000,000
     Reserves surplus
            and                                         2          (70r,767)                      53,153


   Current Iiabilities
    Short-term  borrowings                              3       110,159,500                      149,500
    Short-term  provisions                              4          245,240

                                            TOTAT               LLs,3o2,973                    s,2o2,653

   ASSETS

   Current assets
    Cash and cashequivalents                            5        L7,997,94L                      92,703
    Short-term loansand advances                        6        82,509,508                    5,000,000
    Othercurrentassets                                  7        14,795,524                     109,950

                                            TOTAL               rts,302,973                    5,2O2,653

Theaccompanying  notesare an integralpart
of financial
           statements.                                 LT

For Abhishek Financeand Investment Private Limited          As per my Audit Report of even date
                                                                                     I


Surai Saraogi
                                                                    (W
                                                                     ,zA t      tl


                                                            Avinash R. Phadke
 Director                     Director                      Chartered Accountant
                                                            Membership No. 412OO


                                                            MR.AVINASH PHADKE
                                                                     R.
                \"*                                                 ACCOUN'fANT
                                                            CHARTERED
           Amit Rungta                                        MEMBERSIIIP41.
                                                                      I'Jo, 20{)
       Compliance Officer

Place:Mumbai
Date:30.06.2OL2
                                 ABHISHEKFINANCE      AND INVESTMENT     PRIVATELIMITED
                               Profit and loss statement for the vear ended 31st. March 2012
                                                                                                         Amt. in Rs.
                                                                             Note     For the year      For the year
                                                                             No.       ended 31          ended 31
                                     Particulars
                                                                                      March2O12         March 2011


        Revenuefrom operations                                                   8             95,082


       Total Revenue                                                                        95,082

       Expenses:

       Provisions
                and Contingencies                                                9          206,250
       0ther expenses                                                           10           43,752

       Total expenses                                                                      250,002

       Profit/(Loss) Before Tax                                                            ([s4,920)


       Tax expense:
         Currenttax


       Profit/(Loss) After Tax                                                            (1s4,92O)


       Profit (Loss) for the period                                                       t154,920)
                per
       Earnings equityshare:
       (1JBasic                                                                                 0.00           0.00
       [2] Diluted                                                                              0.00           0.00


For Abhishek Finance and Investment Private Limited                                  As per my Audit Report of even date
                                                                                                               I




SuraiSaraogi
                                                                                            W
                                                                                     Avinash R. Phadke
Director                                                                             Chartered Accountant
                                                                                     Membership No.41200


                                                                                       R.
                                                                              MR.AVINASH PHADKE
               Amit Rungta                                                            ACCOUNTANT
                                                                              CHARTERED
             Compliance Officer                                                         No.
                                                                                MEMBERSHIP4L200


Place: Mumbai
D a t e :3 0 . 0 6 . 2 0 1 2
                                      PRIVATELIMITED
                         AND INVESTMENT
           ABHISHEKFINANCE

NOTE1 SHARECAPITAL
                                                                      in Rs.
                                              As at 31 March As at 31 March
                  Particulars                       2012           20tt


Authorised
Equity Shares Rs.10/-each
             of                                  20,000,000         20,000,000

Issued
Equity SharesofRs.10/- each                        5,ooo,ooo         5,000,000

Subscribed & Paid up
EquityShares Rs.10/-eachfully paid
            of                                     5,000,000         5,ooo,ooo

                    Total                         5,000,000          5,000,000


                                        Equity Shares
           Particulars
                                   Number   Amt. in Rs.
 Shares           at
       outstanding the              500,000   5,000,000
          o
besinnins fthe vear
 SharesIssuedduring the vear
 Sharesbought back during the
vear
 Sharesoutstanding the end of
                  at                500,000       5,ooo,ooo
the vear



5,00,000[100%] Equity Shares(NilJare held by, the holdingcompany,



     Name of Shareholder             As at 31 March?Ol?              As at 31 March2011
                                No. of Shares %o Holding
                                                of               No. ofShares    7o of Holding
                                    held                             held

Ramanlal   BirdichandBakliwal                                           40000             8.00
Prakash   RamanlalBakliwal                                              45000             9.00
Lata PrakashBakliwal                                                    40000             8.00
KaranPrakashBakliwal                                                    40000             8.00
KamalR Bakliwal                                                         45000             9.00
Alka K Bakliwal                                                         45000             9.00
RaikumarR Bakliwal                                                      40000             8.00
Varsha R Bakliwal                                                       40000             8.00
RahulS Bakliwal                                                         45000             9.00
        F
Saniay Pahade                                                           40000             8.00
Viiav F Pahade                                                          40000             8.00
Raieshbahi Bakliwal
            R                                                           40000             8.00
KevnoteCapitals   Limited             500000            100,00
                                      500000            100.00         500000          100.00
                        AND INVESTMENT
          ABHISHEKFINANCE            PRIVATELIMITED

NOTE2 RESERVESANDSURPLUS
                                                                     in Rs.
                                           As at 31 March    As at 31 March
               Particulars
                                                2012              20tL

Surplus
Balance per lastfinancial
       as                 statement                53,153            53,153
Net Profit/(NetLoss)For the currentyear          (ls4,920)
ClosingBalance                                  (to!,7671           53,153

                  Total                         noL767l             53,153




NOTE3 SHORTTERMBORROWINGS
                                                                                Amt. in Rs.
                                                             As at 31 March As at 31 March
                          Particulars
                                                                  20L2           20lt

Unsecured
Loans  repayable demand
               on
(a) from otherparties                                           110,000,000        149,500

(b) Loans          from relatedparties
        and advances                                               159,500
                                                               110,159,500        149,500


                             Total                             110,159,500        149,500

Loansfrom Related parties is from Keynote CapitalsLimited,
the parent companynot coveredu/s 301.


NOTE4 SHORTTERMPROVISIONS
                                                                              Amt. in Rs.
                                                             As at 31 March As at 31 March
                          Particulars
                                                                  2012           20ll

Provisions
           Expenses
Professional                                                        38,990
         provisions
Contingent        against      assets
                        standard                                   206,250




                             Total                                 245,240




                               M
                           IYLIy:I*:THTIHIXI
ABHISHEK
       FINANCE
             AND INVESTMENT
                          PRIVATELIMITED

NOTE5 CASHANDCASHEQUTVALENT
                                                                 Amt. in Rs.
           Particulars            As at 31 March?Ot?               As at 31 March 2011
Balances
       with banks                                 1,7,915,238                          10,000
    on
Cash hand                                             82,703                           82,703

                                                 t7.997.94r                            92,703

NOTE6 SHORTTERMLOANSANDADVANCES
                                                                        Amt. in Rs.
           Particulars            As at 31 March?OtZ               As at 31 March 2011


Unsecured,consideredgood
Advances                                          82,500,000                          5,000,000
Balance
      with Govt.Authorities                           9,508
             -A,Y,
[TDSReceivable 20 12-1,3)

                                                 82,509,508                       5,000,000

NOTE7 OTHERCURRENTASSETS
                                                                                 Amt. in Rs.
           Particulars            As at 31 Nlarch?OL?              As at 31 March 2011


InterestReceivable                                   85574
Receivables-MarginMoney                            14600000
Prelimnary  Expenses the extent
                   to
not written off                                        109,950                        109,950


                                                  t4,795,524                          109,950




                     N'I*R,-:ViNAS'''R.PHADKE
                     iHnntsnED  AccoUNTANT
           ABHISHEK                  PRIVATE
                        AND INVESTMENT
                  FINANCE                   TIMITED

NOTEB REVENUE
            FROMOPERATIONS
                                                               Amt. in Rs.
                                             For the year   For the year
                  Particulars               ended 3l March ended 3l March
                                                2012           20LL

Interest Income                                     95,082

                    Total                           95,O82

The above interest income pertains to Loansgiven.

               AND
NOTE9 PROVISIONS CONTINGENCIES
                                                                   t. in Rs.
                                             For the year   For the year
                  Particulars               ended 31 March ended 3l March
                                                20t2           20Ll

Provision
        against
              standard
                     assets                         206,250

                    Total                           206,250

NOTE10 ADMINISTRATION
                    AND OTHEREXPENSES
                                                               Amt. in Rs.
                                             For the year   For the year
                  Particulars               ended 3l March ended 3l March
                                                2012           2OLL

BankCharges                                          1,453
Professional
          Expenses                                  33,309
AuditorRemuneration                                  8,990


                    Total                            43,752




                    MR.AVINASH PHADKE
                              R.
                    CHARTEREDACCOUNTANT
                              No.41200
                      PIEMBERSFIIP
              FINANCE
       ABHISHEK                 PRIVATE
                    ANDINVESTMENT     LIMITED
       NOTE.11
            ON
       NOTES ACCOUNTS

       ORGANISATION

                 has
       The Company beenregisteredwith RBIto carry on the business Non BankingFinancial
                                                                of                   Company.

                 ACCOUNTING
       SIGNIFICANT        POLICIES:

al          OF
       BASIS ACCOUNTING

                   statements preparedunder the historicalcostconvention an accrualbasisof accounting accordance
       The financial          are                                          on                           in          with the
       generallyacceptedaccounting principles,
                                             Accounting StandardsnotifiedunderSection211(3C) ofthe Companies Act,1956 the
                                                                                                                     and
       relevantprovisions                             guidelines
                         thereofalongwiththe applicable         issuedby the ReserveBankof India("RBI"),The         policieshave
                                                                                                           accounting
       beenconsistentlyappliedby the companyand are consistentwith thoseusedin previousyear.

b)     PRESENTATION DISCLOSURE FTNANCTAL
                  &          OF       STATEMENTS
       Duringthe year ended31st March,2012,the revisedSchedule notifiedunderthe Companies 1956,hasbecome
                                                                  VI                       Act,                         to
                                                                                                              applicable the
       Company,for preparation and presentationoffinancialstatements. adoptionofrevisedSchedule doesnot impactrecognition
                                                                     The                        Vl                         and
       measurement  principlesfollowedfor preparationof financial                it             impacton presentation
                                                                          However, hassignificant
                                                                statements,                                         and
       disclosuresmadein the financialstatements.

c)           RECOGNITION
       REVENUE

       Revenue recognised the extentit is probablethat the economic
               is        to                                       benefis will flow to the companyand the revenuecanbe
       reliablymeasured,

       InterestIncomefrom loangivento variouspartiesis recognised Accrualbasis.
                                                                on

dl     FrxEDAssETs

       Thereare no fixedassets the Company's
                              in           booksofaccounts

e)     VALUATION STOCK TRADE
                OF    IN

       Thereis no Stock-in-Trade

0      TNVESTMENTS

       The Company               as
                   beingregulated a Non-Banking         Company(NBFC) the RBI,Investments classified
                                                Financial              by                   are         undertvvo
                       and                                   with the RBIguidelines
       categories:Current LongTerm and are valuedin accordance                    and the AccountingStandard(AS)13.

Cl     RELATEDPARTYDISCLOSURE

     D HOLDNG
            COMPANY                                  CAPITALS
                                               KEYNOTE      LTD.

                     PERSONNEL
     ii) KEYMANAGEMENT                                  PETETI
                                               MT.SUBBAMO
                                               MT.
                                                 JANAKIMMSUBM MANI

     iii) FELLOW
               SUBSTDTARY                            COMMODITIES
                                               KEYNOTE        LIMITED




                                                  MR.
                                                    AVINASH PHADKE
                                                          R.
                                                  CHARTEREDACCOUNTANT
                                                    [.18MBERSttlp4LZ00
                                                             No.
 i) Balancereflected in the accounts of Sundry Debtors,Loans& Advances,SecuredLoans,Unsecured Loans,& Sundry Creditors are subject
    to Confirmation/Reconcilation and consequential Adjustrnents, if any.

ii) In the opinion of the Managementthe Current Assets,Loans and Advancesare approximately of the value stated if realised in the
    ordinary course of business.The provision of all loan liabilities is adequate and not in excessof amount reasonably necessary.


iir) Contingent Liabilities:
     There are no Contingent Liabilities.

iv) Additional information required to be disclosed as per clauses3, 4C & 4D of ScheduleVI part II of the CompaniesAcq 1956.

   a) Details ofSales,Purchase& Stock in respect oftrading activity:
   There are no Sale,Purchaseor Trading activity,hence no need for quantitative details.

   b) Other details under these paragraphs are not applicable.

v) Previous years figures have been regrouped and rearranged wherever necessary.




    For Abhishek FinanceAnd Investment Prlvate Limited.




   Director
              A
                     o

                                vio""ttu*
                                Director
                                T'
                                            ","{'
                                                    .                                            W
                                                                                           Avinash R. Phadke
                                                                                           CharteredAccountant
                                                                                           MembershipNo.41200
              \\ 'Q-4
              '\/
                     Jt
                          -,/
                                w
                v./'
                     Amit Rungta                                                   MR.AVINASH PHA'KE
                                                                                            R.
                    ComplianceOfficer
                                                                                   CHARTERED
                                                                                           ACCOUNTANT
    Place:Mumbai                                                                     MEMBERST-ilp
                                                                                             No.4t200
    Date:30.06.2012
AVINASHR. PHADKE                                                      Tel:22656194
CHARTERED ACCOUNTAIIT                                      B.COM., F.C.A.
62.BOMBAY MUTUAL CHAMBERS.I9l2I. AMBALAL DOSHIMARG. FORT.MUMBAI - 4OOOOI.




                                    AUDITOR'S REPORT


To,
TheMembers,
ABHISHEK FINANCE AND INVESTMENT PVT. LTD.


I have auditedthe annexedBalanceSheetof ABHISHEK FINANCE AND INVESTMENT
PVT. LTD. as at 31't March 2012and alsothe Profit & LossAccountof the Companyfor the
                          ,
year endedon that dateannexedthereto.Thesefinancialstatements the responsibility the
                                                             are                of
Company's management.    My responsibility is to express an opinion on these financial
statements     on
         based my audit.

I haveconducted audit in accordance the auditingstandards
                  the                    with                     generallyaccepted India.
                                                                                     in
Thosestandards   requirethat I plan and performthe audit to obtain reasonableassurance  about
whether financialstatements freeof materialmisstatements. audit includes
         the                    are                              An               examining,
on a testbasis,evidences supporting amounts disclosures the financialstatements.
                                     the         and           in                         An
audit also includesassessing accounting
                              the            principlesusedand significantestimates madeby
the management, well as evaluating overallfinancialstatement
                  as                   the                          presentation. believethat
                                                                                I
my auditprovides   reasonablebasisfor my opinion.

With all the abovein mind I further reportthat :

a)     I haveobtainedall the informationand explanations
                                                       which to the bestof my knowledge
       andbelief werenecessary the purpose my audit.
                                for          of

b)     In my opinion, proper books of accountas requiredby law have been kept by the
       company far asit appears
              so                from my examination suchbooks;
                                                   of

c)     The BalanceSheetand the Profit and Loss Account referredto in this report are in
       agreement the booksof account
                with                   ;

d)     In my opinion, the Profit & Loss accountand the BalanceSheetcomplieswith the
       mandatoryaccountingstandards                          (3C) of section2ll of the
                                     referredto in sub-section
       Companies 1956.
                 Act,

e)     On the basis of the written representations
                                                 receivedfrom the directors,and taken on
       recordby the boardof Directors,I reportthat noneof the directorsis disqualifiedas on
      31" March,2012 from being appointed directorin termsof clause(g) of sub-section
                                         as
      (l) of section2T4 the Companies 1956;
                      of             Act,

                                                                                    given
      In my opinion and to the bestof my information and accordingto the explanations
      to me, the accounts give the informationrequiredby the Companies    Act, 1956in the
      manner so required and give a true and fair view in conformity with the accounting
      principlesgenerally         in
                         accepted India.

      1)    in the caseof BalanceSheet,of the stateof affairs of the Companyasat
            3ltt March,2Ol2

      2)    in the case Profit & LossAccount,for the yearendedon that date.
                       of




DATED : 30trJune,2}l2.                           AVINASH R. PHADKE
PLACE : MUMBAI                                 CHARTEREDACCOUNTA}.IT
                                                   MembershipNo.41200


                                                   MR.AVINASH PHADKE
                                                             R.
                                                           ACCOUNTANT
                                                   CHARTERED
                                                     MEMBERSHIP41200
                                                             No'
AVINASHR. PHADKE                                                             Tel:22656194
CHARTERED ACCOUNTAI\T                                     ECOM., F.C.A.
62.BOMBAY MUTUAL CHAMBERS.19/2I.AMBALAL DOSHIMARG. FORT.MUMBAI.4OO OOI.


     ANNEXURE REFERRED TO IN PARAGRAPH 3 OF THE AUDITORS REPORT ON THE
     ACCOUNTSOF ABHISHEKFINANGEAND INVESTMENT
                                            PVT. LTD.


1. (a) The Companyhas no Fixed Assetsand hence there is no need to maintain the FixedAssets
       Register.

     (b) The Companyhas no FixedAssetsand hencethere is no need for verifyingthe same.


2.      The companyis a servicecompany.Accordingly, does not hold any physicalinventories.
                                                  it


3. (a) The Companyhas not granted any loans,securedor unsecured, companies,
                                                                      to           firms or other
       partiescoveredin the register maintainedunder Section301 of the Act. Accordingly,  clauses
       (b) to (d) of the Order are not applicable the Companyfor the current year.
                                                to

     (b) The Companyhas not taken any loans,securedor unsecured,     from companies,  firms or other
         partiescoveredin the register maintainedunder Section301 of the Act. Accordingly,   clauses
         (f) and (g) of the Order are not applicable the Companyfor the current year.
                                                   to


4.      In our opinion and accordingto the informationand explanationsgiven to us, there is an
        adequateinternalcontrol system commensurate     with the size of the Companyand the nature
        of its businessfor the purchase of fixed assets and for the sale of services. Further, on the
        basis of our examinationof the books and records of the Company, and accordingto the
        information and explanationsgiven to us, we have neither come across nor have been
        informed of any continuing failure to correct major weaknessesin the aforesaid internal
        controlsystem,

5.      Accordingto the informationand explanationsgiven to us, there have been no contractsor
        arrangementsreferred to in Section 301 of the Act during the year to be entered in the
        register required to be maintained under that Section. Accordingly, the question of
        commentingon transactionsmade in pursuance such contractsor arrangementsdoes not
                                                     of
        arise.

6.     The Companyhas not acceptedany depositsfrom the publicwithin the meaningof Sections
       58A and 58M of the Act and the rulesframed there under.

7.     In ouropinion, the Companyhas an internalaudit systemcommensurate
                                                                       with its size and
       natureof its business.

8.      The CentralGovernmentof India has not prescribed maintenance cost recordsunder
                                                       the                of
        clause(d) of sub-section of Section209 of the Act for any of the productsof the Company.
                                (1)

9. (a) Accordingto the informationand explanations given to us and the records of the Company
       examinedby us, in our opinion,the Companyis generallyregular in depositingthe undisputed
       statutory dues includingprovidentfund,employees'stateinsurance,income-tax,, servicetax,
       cess and other material statutory dues as applicablewith the appropriate authorities.As
       informed to us, investor education and protection fund, sales-tax, wealth tax, customs
       dutyandexciseduty are not applicable the Companyfor the current year.
                                           to
      (b) Accordingto the informationand explanations given to us and the records of the Company
          examined by us, there are no dues of income-tax,service-tax, cesswhichhave not been
                                                                     and
          depositedon account of any dispute. As informed to us, sales-tax,wealth-taxcustomsduty
          and excisedutyare not applicable the Companyfor the current year.
                                         to

10.       The Company does not have neither accumulatedlosses nor cash loss at the end of the
          financialyear and also at the end of the financialyear immediatelyprecedingthe financial
          year.

11.       According the recordsof the Companyexaminedby us and the informationand explanation
                    to
          given to us, the Companyhas not defaultedin repaymentof dues to any financialinstitution
          or bank or debentureholdersas at the balancesheet date.

12.       TheCompanyhas not granted any loans and advanceson the basis of security by way of
          pledgeof shares,debenturesand other securities.

13.       In our opinion,the companyis not a chit fund or a nidhi, mutual benefitfund/society.

t4.       In our opinion, the Company is not a dealer or trader in shares, securities,debenturesand
          other investments.

15.       In our opinion and accordingto the informationand explanationsgiven to us, the Company
          has not given any guarantee for loans taken by others from banks or financial institutions
          duringthe year.

16.                has not obtainedany term loans.
          TheCompany

t7.       On the basis of an overall examinationof the balancesheet of the Company,in our opinion
          and according the informationand explanations
                        to                                given to us, there are no funds raisedon a
          short-termbasiswhich have been usedfor long-terminvestment.

18.       The Company has not made any preferentialallotment of shares to parties and companies
          coveredin the registermaintainedunder Section301 of the Act during the year.

19.       The Companyhas not issuedany debenturesduring the year. Thereforeprovisions clause4
                                                                                    of
          (xviii)are not applicable the company.
                                  to

20.       The Companyhas not raisedany money by publicissuesduring the year.

2t.                                         of
          Duringthe courseof our examination the booksand recordsof the Company,carriedout in
          accordancewith the generally acceptedauditing practices in India, and accordingto the
                                    given to us, we have neither come acrossany instanceof fraud
          informationand explanations
          on or by the Company,noticed or reported during the year, nor have we been informed of
          such case by the Management.




                                                               AvinashR Phadke
Place:Mumbai                                                   CharteredAccountant
Date:30th
        1une,2012.                                                        No.
                                                               Membership 41200


                                                             AVINASH PHADKE
                                                           MR.     R.
                                                           CHARTEREDACCOUNTANT
                                                                      No.41240
                                                             MEtvIBERSHIP

								
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