Aikyam Intellectual Property Consultancy Ltd Auditors Report.

AUDITORS

1. We have audited the attached Balance Sheet of M.P.POLYPROPYLENE LIMITED as at 31st March 2014 and also statement of Profit & Loss Account for the year ended on that date annexed thereto. These financial statements are the responsibility 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 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 disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the 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) Order, 2003 (as amended) 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 paragraph 4 and 5 of the said order.

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

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 accounts as required by law have been kept by the Company so far as appears from our examination of those books;

c. The Balance Sheet, and statement of Profit and Loss Account dealt with by this report are in agreement with the books of accounts.

d. In our opinion, the Balance Sheet and statement of Profit and Loss Account dealt with this report comply with the accounting standards referred to in sub-section (3C) of section 211 of Companies Act, 1956, to the extent applicable, except as reported in Para (f) to (h) hereunder:

e. On the basis of written representation received from the directors, as on 31-3-2014 and taken on record by the Board of Directors, we report that none of the directors is disqualified as at 31.3.2014 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 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 accounts read together with the significant Accounting Policies and other notes thereon, 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:-

i. in the case if the Balance Sheet, of the state of affairs of the Company as at 31st March, 2014

ii. in the case of the Statement of Profit and Loss, of the loss of the Company for the year ended on that date.

iii. in the case of the Cash Flow Statement, of the cash flow for the year ended on 31st March, 2014.

For D M Oza & Associates
Chartered Accountants
Firm Regn. No. : 119407W
D.M. Oza
Proprietor
M. No. : 106993
Date: 30.05.2014

Annexure to the Auditors’ Report

(Referred to in Paragraph 3 of our Report of even date.)

1. The Company has no fixed assets.

2. The Company does not have any stock or inventory.

3. (a) The Company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 301 of the Act;

(b) In the absence of any loan granted under section 301 of the Act the conditions of loans and interest are not applicable to company;

(c) In the absence of any loan granted under section 301 of the Act the question of repayment of principal amount and interest does not arise;

(d) In the absence of any loan granted under section 301 of the Act, there is no question to recover of such amount and interest.

(e) Since the company has not taken any loan covered under section 301 of the Act, the provisions of clause 4(iii)(e) (f) & (g) of the Companies (Auditor’s Report) Order (as amended) are not applicable to this company;

4. According to the information and explanation given to us, there is generally adequate internal control procedure commensurate with the size of the Company and nature of its business. During the course of our audit, we have not observed any continuing failure to correct weakness in internal controls.

5. The Company has not entered into any transaction covered under section 297 & 299 of the Companies Act, 1956 and so paragraph 4(v)(a) and (b) of the Order is not applicable.

6. In our opinion and according to the information and explanations given to us, the company has not accepted any deposit from public. In our opinion and according to the information and explanation given to us, the Company has complied with the provisions of section 58Aand 58AA and other relevant provisions of the companies Act 1956 and The Companies (Acceptance of Deposits) Rule, 1975.

7. The Company has neither formal internal audit department nor internal auditors. However, Company’s control procedure ensures reasonable internal checking of its financial and other accounts.

8. In our opinion and according to the information and explanation given to us, maintenance of cost records has not been prescribed by the Central Government under clause (d) of the Section 209(1) of the Companies Act,1956, hence the question of reporting under clause 4(viii) of the said Order does not arise.

9. In our opinion and according to the records of the Company, the Company has no dues towards Income Tax, Sales Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, Cess & other material statutory dues applicable to it. We have been informed by the Company, provision of Provident Fund, Employees State Insurance Scheme is not applicable and also provisions of Investor Education & Protection Fund are not applicable.

10. According to information & explanations given to us, the Company has accumulated losses and has also incurred cash losses during the financial year.

11. According to information & explanations given to us, the Company has not defaulted in the repayment of dues to financial institution & Banks. The Company has not borrowed any sums through Debentures.

12. Based on our examination of the records and information and explanations given to us, the Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities, the provisions of clause 4(xii) of the said Order, 2003 is not applicable to the Company.

13. In our opinion, the Company is not a chit fund or a nidhi / mutual benefit fund / society. Therefore, the provision of clause 4(xiii) of the said Order, 2003 is not applicable to the Company.

14. In our opinion, the Company is not dealing or trading in shares, debentures and other investments accordingly, the provision of clause 4(xiv) of the said Order, 2003 is not applicable to the Company.

15. According to the information and explanations given to us, the Company has not given any guarantees for loans taken by others from a Bank or Financial Institutions.

16. In our opinion and according to the information and explanations given to us, the Company has not obtained any term loans.

17. According to the information and explanation given to us and on overall examination of the Balance

Sheet of the Company, we report that generally no funds raised on short term basis have been used during the year for the long term investment.

18. According to the information and explanation given to us, the Company has not made any preferential allotment of shares.

19. According to the information and explanation given to us, there are no debentures issued or outstanding during the year.

20. According to the information and explanation given to us, the Company has not raised any money through public issue during the year; accordingly paragraph 4(xx) of the said Order is not applicable.

21. According to the information & explanation given to us, no fraud on or by the Company has been noticed or reported during the course of our Audit.

For D. M. Oza & Associates
Chartered Accountants
Firm Registration No.: 119407W
D. M. Oza
Proprietor
Date: May 30, 2014 M. No.: 106993