SYNERGY FINANCIAL EXCHANGE LIMITED
We have audited the attached Balance Sheet of Synergy Financial Exchange
Ltd. as at 30th June, 1996 and the annexed Profit & Loss Account of the
Company for the year ended on that date and report that:
1. 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.
2. In our opinion, proper books of accounts as required by Law have been
kept by the company in so far as appears from our examination of the books
of the company.
3. The Balance Sheet and the Profit & Loss Account dealt with by this
report are in agreement with the Books of Accounts of the Company.
4. In our opinion, and to the best of our information and according to the
explanations given to us, the accounts give the information required by the
Companies Act, 1956 in the manner so required and present a true and fair
view subject to non provision for shortfall in Market value of investment
as per note 11 to that extent indicated there in:
a. In the case of Balance Sheet, of the state of the affairs of the company
as at June 30th, 1996; and
b. In the case of the Profit & Loss Account, of the profit for the year
ended on that date.
For M. S. JAGANNATHAN & N. KRISHNASWAMI
Place : Chennai,
Date : 1st November, 1996.