We have audited the attached Balance Sheet of M/s AMRADEEP INDUSTRIES
 LIMITED as at 31st March 2011 and also the Profit & Loss Account and
 Cash Flow Statement of the company for the year ended on that date
 annexed there to. 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.
 
 1.  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 amounts and
 disclosures in the financial statements. An audit also includes
 assessing the accounting principles used and significant estimates made
 by management, as well as evaluating the overall financial statement
 presentation. We believe that our audit provides a reasonable basis for
 our opinion.
 
 2.  As required by the Companies (Auditor''s Report) Order 2003 issued
 by the Central Government of India in terms of section 227(4A) of the
 Companies Act 1956,we enclose in Annexure a statement on the matters
 specified in the paragraph 4 and 5 of the said order .
 
 Further to our comments in the Annexure refer to in paragraph 2 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 has been
 kept by the company so far as it appears from our examination of the
 books of accounts.
 
 c.  The balance sheet and Profit & Loss account and Cash Flow Statement
 dealt by this report are in agreement with the books of accounts.
 
 d.  In our opinion the balance Sheet, Profit & Loss Account and cash
 Flow Statement dealt with by this report comply with the mandatory
 Accounting Standards referred in Sub-section 3(C) of Section 211 of the
 Companies Act 1956.
 
 e.  In our opinion and on the basis of the information and explanations
 given to us and on the basis of the written representations received
 from the Directors and taken on record none of the directors of the
 company is disqualified as on 31st March 2011 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 notes on the accounts 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 of 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 Loss for the year
 ended on that date and
 
 iii in the case of the cash flow statement, of the cash flow for the
 year ended on that date.
 
 ANNEXURE REFERRED TO IN PARAGRAPH-2 OF OUR REPORT OF EVEN DATE
 
 1 The company does not have any Fixed Assets. Hence, clause (i) (a),
 (b) & (c) are not applicable to the company.
 
 2 The company does not have any inventory. Hence, clause (ii) (a), (b)
 & (c) are not applicable to the Company.
 
 3 (a) As per information and explanation given to us, the company has
 not granted loans to parties covered in the register maintained under
 section 301 of the Companies Act, 1956, hence clause (iii) (a), (b),
 (c) & (d) are not applicable to the company
 
 (b) As per information and explanation given to us, the company has not
 taken loans from parties covered in the register maintained under
 section 301 of the Companies Act, 1956, hence clause (iii) (e) , (iii)
 (f) and (iii) (g) are not applicable to the company.
 
 4.  In our opinion and according to the information and explanations
 given to us there are adequate internal control procedures commensurate
 with the size of the company and the nature of its business for the
 purchase of inventory and fixed assets and also for the sale of goods
 and services. During the course of our audit we have not observed any
 continuing failure to correct major weakness in internal controls.
 
 5.  As per information & according to explanation given to us, the
 company has not entered into any transaction that need to be entered
 into the register maintained under section 301 of the Act.
 
 6.  According to the information and explanations given to us, the
 Company has not accepted any deposits from the public. Therefore, the
 provisions of clause (iv) of the Companies (Auditor''s Report) Order,
 2003 are not applicable to the Company.
 
 7.  In our opinion, the Company has an internal audit system
 commensurate with its size and nature of its business.
 
 8.  As informed to us, Central government has not prescribed
 maintenance of cost records under section 209(1) (d) of the Companies''
 Act 1956 in respect of products of the company.
 
 9.  In respect of Statutory dues:
 
 a) As per information & according to explanation given to us, the
 company is generally regular in depositing statutory dues with the
 appropriate authorities during the year.
 
 b) As per information & according to explanation given to us, there are
 no cases of non deposit with the appropriate authorities of disputed
 dues of Income-tax, and any other statutory dues with the appropriate
 authorities during the year.
 
 10. The company does not have any accumulated losses at the end of the
 financial year. The Company has incurred cash losses of Rs234716/-
 during the financial year covered by the audit and also incurred losses
 in the immediately preceding financial year.
 
 11. Based on our audit procedures and according to the information and
 explanations given to us, there are no loans taken from financial
 institution, banks or debenture-holders therefore the question of
 payments does not arise.
 
 12.In our opinion and according to the information available and
 explanations given to us, no loans and advances have been granted by
 the company on the basis of security by way of pledge of shares,
 debentures and other securities.
 
 13. In our opinion the company is not a chit fund or a nidhi/mutual
 benefit fund/society. Hence the provisions of clauses (xiii) of the
 Companies (Auditor''s Report) Order, 2003 are not applicable to the
 Company.
 
 14. The Company has maintained records of transactions and contracts in
 respect of investment in shares, mutual fund and other investments and
 timely entries have been made therein. All the shares, mutual funds and
 other investments held by the companies are in its own name except to
 the extent of the exemption granted under section 49 of the Companies
 Act, 1956.
 
 15. According to the information and explanations given to us, the
 company has not given any guarantee for loans taken by others from
 Banks or financial institutions.
 
 16.The company has not raised any term loans during the year.
 
 17. According to the information and explanations given to us and on
 overall examination of the balance sheet of the Company, we are of the
 opinion that no funds raised short term basis that have been used for
 long term investment.
 
 18. The company has not made any preferential allotment of shares to
 parties and companies covered in the registered maintained under
 section 301 of the Companies Act 1956.
 
 19. The company has not created any securities in respect of any
 outstanding at the year-end.
 
 20. The company has not raised any money by way of public issue during
 the year.
 
 21. In our opinion and according to the information and explanations
 given to us, no material fraud on or by the company, has been noticed
 or reported, during the course of our audit.
 
 
 
                                                     For, Y.D. & Co.
 
                                              Chartered Accountants
 
                                             Firm Reg. No. 018846 N
 
                                                      (Rakesh Puri)
 
                                                            Partner
 
                                                      M. No. 092728
 
 Place : Ludhiana
 
 Date  : 12th May, 2011