1.  We have audited the attached Balance Sheet of NETTLINX LIMITED, as
 at 31st March, 2011 and also the Profit and Loss Account of the company
 for the year ended on that date annexed thereto and the Cash Flow
 Statement for the year ended on that date.  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 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 (Auditors 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 the Annexure referred to in paragraph 3
 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 purposes of our
 audit;
 
 (b) In our opinion, proper books of account as required by law have
 been kept by the company so far as appears from our examination of
 those books;
 
 (c) The balance sheet, profit and loss account and cash flow statement
 dealt with by this report are in agreement with the books of account;
 
 (d) In our opinion, the balance sheet, profit and 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;
 
 (e) On the basis of the written representations received from the
 directors, and taken on record by the Board of Directors, we report
 that none of the directors are disqualified as at 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; and
 
 (f) In our opinion and to the best of our information and according to
 the explanations given to us, the said accounts read with the 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 of the balance sheet, of the state of affairs of the
 company as at 31st March, 2011;
 
 (ii) in the case of profit and loss account, of the loss for the year
 ended on that date; and
 
 iii) in the case of cash flow statement, of the cash flows of the
 company for the year ended on that date..
 
 ANNEXURE TO THE AUDITOR''S REPORT
 
 The annexure referred to in paragraph 3 of our report of even date to
 the members of NETTLINX LIMITED as at 31st March 2011
 
 (1) (a) The Company is maintaining proper records showing full
 particulars including quantitative details and situation of fixed
 assets.
 
 (b) According to the information and explanation given to us, the fixed
 assets have been physically verified by the management at regular
 intervals and no material discrepancies between the book records and
 the physical inventory have been noticed on such verification.
 
 (c) Fixed assets disposed off during the year were not substantial and
 therefore, do not effect the going concern assumption.
 
 (2) (a) The management has conducted physical verification of inventory
 at reasonable intervals during the year.
 
 (b) The procedures of physical verification of inven- tory followed by
 the management are reasonable and adequate in relation to the size of
 the com- pany and the nature of its business.
 
 (c) The company is maintaining proper records of in- ventory and no
 material discrepancies were no- ticed on such physical verification.
 
 (3) (a) As Informed, 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 Companies Act 1956.  Therefore the
 provisions of clause (iii) (b) to (d) of the order are not applicable.
 
 (b) As informed, the company has not taken any loans, secured or
 unsecured to companies, firms or other parties covered in the register
 maintained under section 301 of the companies Act, 1956.  Hence the
 provisions of clause (iii) (f) & (g) of the order are not applicable.
 
 (4) In our opinion and according to the information and explanations
 given to us, there is an adequate internal control procedure
 commensurate with size of the company and the nature of its business,
 with regard to the purchase of fixed assets and for of services.
 Further, on the basis of our examination and according to the
 information and explanations given to us, we have neither come across
 nor have we been informed of any instance of major weakness in the
 aforesaid internal control system.
 
 (5) According to the information and explanations given to us, there
 have been no contracts or arrangements referred to in Section 301 of
 the companies Act 1956 during the year to be entered in the register
 required to be maintained under that section. Accordingly, commenting
 on transactions made in pursuance of such contracts or arrangements
 does not arise.
 
 (6) The company has not accepted any deposits from the public within
 the meaning of Section 58A and 58AA of the Act and the rules framed
 there under.
 
 (7) In our opinion, the company has an internal audit system
 commensurate with the size and nature of its business.
 
 (8) As per the information and explanations given to us, in respect of
 the class of industry the Company falls under, the maintenance of cost
 records has not been prescribed by the Central Government under Section
 209(1)(d) of the Companies Act, 1956. Therefore, the provision of
 clause (viii) of paragraph 4 of the Order is not applicable to the
 Company.
 
 (9) (a) According to the information and explanations given to us, and
 as per the records of the Company, in our opinion the Company is
 generally regular in depositing undisputed statutory dues including
 Provident Fund, Investor Education and Protection Fund, Employees''
 State Insurance, Income tax, Sales tax, Wealth Tax, Service Tax,
 Customs Duty, Excise Duty, Cess and other material statutory dues with
 the appropriate authorities, where applicable.  Based on the
 information furnished to us, there are no undisputed statutory dues as
 on 31st March 2011, which are outstanding for a period exceeding six
 months from the date they became payable.
 
 (b) According to the information and explanations given to us, there
 are no cases of non-deposit with the appropriate authorities of
 disputed dues of sales tax/ income tax/ customs tax/ wealth tax/
 service tax/ excise duty and Cess.
 
 (10) The company has not incurred cash losses during the financial year
 under audit and in the immediately preceding financial year.
 
 (11) According to the records of the company examined by us and the
 information and explanation given to us, the company has not defaulted
 in repayment of dues to any financial institution or bank or debenture
 holders as at the balance sheet date.
 
 (12) The company has not granted any loans and advances on the basis of
 security by way of pledge of shares, securities, debentures and other
 investments.
 
 (13) The company is not a chit fund or a nidhi / mutual benefit fund
 /society. Therefore, the provisions of sub clause (a), (b), (c) and (d)
 of clause (xiii) of paragraph 4 of the Order are not applicable to the
 Company.
 
 (14) According to the information and explanations given to us, the
 Company is not dealing or trading in shares, securities, debentures and
 other investments. Accordingly, the provisions of clause (xiv) of
 paragraph 4 of the Companies ( Auditors Report )Order 2003 are not
 applicable to the Company.
 
 (15) The company has not given any guarantee for loans taken by others
 from bank or financial institutions and hence clause (xv) of paragraph
 4 of the Order is not applicable to the Company.
 
 (16) The company has not obtained any term loans during the Financial
 Year.
 
 (17) On the basis of an overall examination of the balance sheet of the
 company, in our opinion and according to the information and
 explanations given to us, there are no funds raised on a short-term
 basis which have been used for long-term investment.
 
 (18) According to the information and explanation given to us, the
 company has not made any preferential allotment of share to the parties
 and companies covered in the register maintained under sec.301 of the
 companies Act 1956 and hence the applicability of the clause regarding
 the price at which shares have been issued and whether the same is
 prejudicial to the interest of the company does not rise.
 
 (19) The company has not issued debentures and hence clause (xix) of
 paragraph 4 of the Order is not applicable to the Company.
 
 (20) The Company has not raised any money through a public issue during
 the year. Therefore, the provision of clause (xx) of paragraph 4 of the
 Order is not applicable to the Company.
 
 (21) Based on the audit procedures performed and information given to
 us and the representation made by the Management, we report that no
 fraud on or by the Company has been noticed or reported during the year
 
 
                                                For M/s. DEVA & CO
 
                                             Chartered Accountants
                                               Firm Reg.No:000722S
 
                                                      Sd/-
 
                                              (M. Devaraja Reddy)
 
                                                    Partner
                                             Membership No. 026202
 Place : Hyderabad
 Date  : 24.08.2011