Innovassynth Investments Ltd Auditors Report.

To the Members of Innovassynth Investments Limited Report on the Financial Statements

We have audited the accompanying financial statements of Innovassynth Investments Limited (‘‘the Company), which comprise the Balance Sheet as at 31st March, 2017, and the Statement of Profit and Loss, and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Managements Responsibility for the Financial Statements

The Companys 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 and cash flows of the Company in accordance with the accounting principles generally accepted in India, including Accounting Standards specified under Section 133 of the Act, read with Rule 7 of Companies (Accounts) Rules, 2014.This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding 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 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 have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. 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 auditors 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 financial control relevant to the Companys preparation of the financial statements that give a true and fair view 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 the Companys Directors, 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 on the financial statements.

Opinion

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 Act 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 31st March, 2017, of its loss and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2016 ("the Order"), issued by the Central Government of India in terms of Section 143(11) of the Act, and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us during the course of the audit, we give in the Annexure, a statement on the matters specified in paragraphs 3 and 4 of the Order.

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 purpose 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. c. 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. d. In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under section 133 of the Act, read with Rule 7 of Companies (Accounts) Rules, 2014. e. On the basis of written representations received from the directors as on 31st March, 2017 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2017 from being appointed as a director in terms of Section 164(2) of the Act. f. The company has generally adequate internal financial controls system in place and the same are generally operating effectively. g. With respect to the other matters to be included in the Auditors 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: (i) The Company has no pending litigations which has impact on its financial position.

(ii) The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

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

(iv) The Company has provided requisite disclosures in its financial statements as to holdings as well as dealings in Specified Bank Notes during the period from 8th November, 2016 to 30th December, 2016. The disclosures are in accordance with books of account maintained by the Company.

For N. M. RAIJI & CO.
Chartered Accountants
Firm Regn No: 108296W
CA. Y. N. THAKKAR
Place : Mumbai Partner
Date : 29.05.2017 Membership No: 33329

ANNEXURE TO THE INDEPENDENT AUDITORS REPORT OF EVEN DATE

{Referred to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements section of our report to the members of Innovassynth Investments Limited (the Company)} The Clause No 3(i), 3(ii) and 3(iii) of the Order is not applicable to the Company. i) The Company has not granted any loans, secured or unsecured to Companies, Firms, Limited Liability Partnerships or other parties covered in the register maintained under Section 189 of the Act, therefore sub clauses (a), (b) & (c) of clause 3(iii) of the Order are not applicable. ii) During the year the Company has neither granted any loans nor made any investments nor has it given any guarantee or provided security in connection with loans to others. iii) The Company has not accepted any deposits from the public. iv) The Central Government has not prescribed the maintenance of cost records under section 148(1) of the Companies Act, for the activities of the Company. v) a) The Company is generally regular in depositing undisputed statutory dues including service tax, Profession tax and Income Tax deducted at source with the appropriate authority. There are no arrears of undisputed statutory dues which remained outstanding as at March 31, 2017 for a period of more than six months from the date they became payable. b) According to the records made available to us and the information & explanations given by the management, there are no dues of income tax, sales tax, wealth tax, service tax, custom duty, excise duty, value added tax or cess that have not been deposited on account of any dispute. vi) The Company has not defaulted in repayment of loans or borrowings to any financial institutions, banks, government or debenture holders. vii) The Company did not raise money by way of initial public offer or further public offer (including debt instrument) or term loans during the year. viii) During the year, no fraud by the Company or any fraud on the Company by its officers or employees has been noticed or reported, during the course of our audit. ix) During the year, the Company has not paid any Managerial Remuneration. Accordingly, clause (xi) of the Order is not applicable. x) All the related party transactions are in compliance with the Section 177 & 188 of the Act, and the details have been disclosed in the Financial Statement as required by the applicable accounting standards. xi) The Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. xii) The Company has not entered into any non-cash transactions with directors or person connected with them. xiii) The Company is not required to be registered under 45-IA of the Reserve Bank of India Act, 1934.

For N. M. RAIJI & CO.
Chartered Accountants
Firm Regn No: 108296W
CA. Y. N. THAKKAR
Place : Mumbai Partner
Date : 29.05.2017 Membership No: 33329