We have audited the attached Balance Sheet of M''s. Artech Power
 Products Limited (The company) as at 31st March, 2011 and the Profit
 & Loss Account of the company for the year ended 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.
 
 We have conducted our audit in accordance with auditing standards
 generally accepted in India. These standards require that we plan and
 perform the audit to obtain reasonable assurance about whether the
 financial statements are free from material misstatement. An audit
 includes examining, on a test basis.  evidence supporting the amounts
 and disclosures in the financial statements and also includes assessing
 the accounting principles used and significant estimates made by
 management, as well as evaluating the overall presentation of financial
 statements. We believe that our audit provides a reasonable basis for
 our opinion.
 
 As required by the Statement on the Companies (Auditor''s Report) Order
 2003, as amended by the Companies (Auditors Report) (Ameiidment) Order.
 2004 (together the Order), issued by the Central Government of India
 in terms of sub-section (4A) of section 227 of the Companies Act, 1956.
 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. we give in the Admixture a statement on the
 matters specified in paragraphs 4 and 5 of the Order
 
 Further we report :-
 
 i.  We have obtained all the information and explanations, which to the
 best of our knowledge and belief
 
 were necessary far the purpose of the audit
 
 ii. 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.
 
 in The Balance Sheet. Profit & Loss Account and Cash Flow Statement
 dealt with by this report are in agreement with the books of accounts.
 
 iv. In our opinion. The Balance Sheet, Profit & Loss Account and Cash
 Flow Statement dealt with by this report comply with the Accounting
 Standards referred to in sub-section (3C) of section 211 of the
 Companies Act, 1956.
 
 v On the basis of written representation received from directors and
 taken on record by the Board of Directors, we report that none of the
 Directors is disqualified as ou31sr 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.
 
 vi. In our opinion and to the best of our information, and according to 
 the explanation given to us, the said accounts 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:
 
 a) in the- case of the Balance Sheet, of the state of affairs of the
 company as at i1st March. 2011:
 
 b) in the case of the Profit & Loss
 Account of the Profit for the year ended on that date: and
 
 c)in the case of the Cash Flow Statement, of the cash flows
 for the year ended on Thai date.
 
 ANNEXURE TO THE AUDITORS REPORT
 
 Statement referred to in our report of even dale to the members of
 Artech Power Products Limited on the accounts for the
 
 (i) The company does not have fixed assets. Therefore, the provisions
 of clause (i)(a) to (i)(c) of paragraph 4 of the said Order are not
 applicable to the company.
 
 (ii) The company does not have any inventories. Therefore, the
 provisions of clauses (ii)(a) to (ii)(c) of paragraph 4 of the said
 Order are not applicable to the company.
 
 (iii) 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. Clauses (iu)(b) to (m)(d) of paragraph 4
 of the said Order are not applicable to the company.
 
 e) The company has taken unsecured loans from 2 parties. At the year
 end. the outstanding balance of such loans taken aggregated to
 Rs.630,521 and the maximum amount involved during the year was
 Rs.917.521.
 
 f) The rate of interest and other terms and conditions of such loans
 are. in our opinion, prima facie not prejudicial to die interest of the
 company.
 
 g) The terms of repayment for the above loans have not been stipulated,
 but the same are stated to be repayable on demand. Since the company
 is stated to have received no demand for repayment of the above loans,
 there has been no default on the part of the company.
 
 (iv) In our opinion and according to the information and explanations
 given to us, there are adequate internal control systems commensurate
 with the size of the company and nature of its business for the
 purchase of inventory and fixed assets and for sale of goods and
 services. During the course of our audit, no major weaknesses have been
 noticed in the internal controls.
 
 (v) In our opinion and according to the information and explanations
 given to us, there are no contracts and arrangements referred to in
 section 301 of the Companies Act. 1956 during the year that need to be
 entered in the register maintained under that section. Accordingly.
 Clause (v) (b) of the paragraph 4 of the Order is not applicable to the
 company for the current year.
 
 (vi) The company has not accepted any deposit from public within the
 meaning of section 58 A and 58 AA or any other relevant provisions of
 the Act and the Companies (Acceptance of Deposits) Rules. 1975 framed
 there under. The appeal filed by the Registrar of Companies. Kerala
 against the company with the Honljle Kerala High Court, as specified in
 point no.4 of Notes to Accounts forming part of Schedule 11 to
 financials statements, is yet to be disposed off.
 
 (vii) In our opinion, the company''s internal audit system is
 commensurate with its size and its nature of activities.  yni) The
 provisions regarding maintenance of cost records under section 209(1
 (d) of the Companies Act. 1956 are not applicable to the company.
 
 (ix) a) According to the information and explanations provided to us.
 the company is generally regular in depositing with appropriate
 authorities undisputed statutory dues including provident fund,
 investor education and protection fund.  employees'' state insurance,
 income tax wealth tax. service tax. customs duty, excise duty7, cess
 and other material statutory dues, applicable to it. The following were
 outstanding for a period of more than six months on the last day of the
 financial year.
 
 b) There is no amount payable in respect of the aforesaid statutory
 dues that have not been deposited on account of any disputes. 
 
 (x) The accumulated losses of the company at the end of tire financial 
 Year is more than fifty percent of the net worth; but the company has not
 incurred cash losses during the current financial year and in the
 immediately proceeding financial year. 
 
 (xi i As per the information and explanations given to us. die company 
 has not availed any loans from banks or financial institutions or through debentures.  
 
 (xii) The company has not granted any loans and advances on die 
 basis of security by way of pledge of shares, debentures and other 
 securities.  
 
 xiii) The provisions of any special statute applicable to Chit Fund 
 or Xydis or Mutual Fund Society are not applicable
 to the company.  
 
 (xiv) In our opinion and according to the explanations
 given to us, the company is not a dealer or trader in securities.
 
 (xv) As explained to us, the company leas not given any guarantee for
 loans taken by others from bank or financial
 institutions, the terms and conditions whereof, are prejudicial to the
 interest of the company.  
 
 (xvi) According to tile information and explanations given to us, the 
 term loans taken by the company have been applied
 for the purpose for which they were obtained.  
 
 (Xvii) According to file information and explanations given to us 
 and on an overall examination of the balance sheet of
 the company, we report that no funds raised on short term basis have
 been used for long term investments''.  
 
 (Xviii) Tile company has not made
 any preferential allotment of shares to parties covered in the register
 maintained under section 301 of the Companies Act. 1956 during the 
 year 
 
 (xix) In our opinion. the company has not issued any debentures during
 the year.
 
 (xx) The company has not raised any money by way of public issue
 during the year.  [xxi) According to tile information and explanations
 given to us. during the year, no fraud on or by the company has
 been noticed or reported.
 
 
                                       For G Joseph & Associates 
 
 
                                          Charetered Accountants            
 
                                             FimiReg.No.006310S
 
 
 
 Place : Cochin                                    Umesh L Bhat
 
 Date : 21/11/2011                                     Partner
 
                                           Membership No .211364