We have audited the attached Balance Sheet of M/s. SILICON VALLEY
 INFOTECH LIMITED, as at 31 st March, 2012 and also the Statement of
 Profit and Loss 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.
 
 We 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 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.
 
 Further, we report that:
 
 1.  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;
 
 2.  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 ;
 
 3.  The Balance Sheet and Profit and Loss Account dealt with by this
 report are in agreement with the books of account;
 
 4.  In our opinion, the Balance Sheet and Profit & Loss Account dealt
 with by this report comply with the accounting standards referred to in
 sub-section (3C) of Section 211 of the Companies Act, 1956, to the
 extent applicable;
 
 5.  On the basis of written representations received from the
 directors, as on 31 st March, 2012 and taken on record by the Board of
 Directors, we report that none of the directors is disqualified as on
 31st March, 2012 from being appointed as a Director in terms of clause
 (g) of sub-section (1) of Section 274 of the Companies Act, 1956 ;
 
 6.  In our opinion and to the best of our information and according to
 the explanations 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 31st March, 2012.
 
 b) In the case of the Profit & Loss Account, of the Profit for the year
 ended on that date.
 
 c) In the case of Cash Flow Statement of the cash flows for the year
 ended on that date.
 
 7.  As required by the Companies (Auditor''s Report) Order, 2003, and as
 amended by the Companies (Auditor''s Report), (Amendment) Order, 2004
 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.
 
 (Referred to in Paragraph 7 of our Report of even date on the Accounts
 of Silicon Valley infotech Limited as on 31.03.2012J
 
 1.  (a) The Company has maintained proper records showing fuli
 particulars including quantitative details and situation of fixed
 assets.
 
 (b) Fixed Assets have been physically verified by the management of the
 Company during the year, which in our opinion is reasonable having
 regard to the Company and the nature of its fixed assets.
 
 (c) There is no disposal of fixed assets during the year.
 
 2.  (a) As explained to us, the inventory has been physically verified
 during the year by the management.
 
 In our opinion, the frequency of verification is reasonable.
 
 i (b) In our opinion and according to the information and explanation
 given to us, the procedures of physical verification of inventory
 followed by the management are reasonable and adequate in relation to
 the size of the Company and the nature of its business.
 
 (c) In our opinion and according to the information and explanations
 given to us, and on the basis of our examination of the records of
 inventory, the Company is maintaining proper records of inventory.
 
 The discrepancies noticed on physical verification of inventory as
 compared to the book records were not material and have been properly
 dealt with in the books of account.
 
 3.  The Company has neither given nor taken any loan, secured and
 unsecured loans, to/from any Company, firms or other parties covered in
 the register maintained under section 301 of the Act.
 
 4.  In our opinion and according to the information and explanations
 given to us, there are adequate internal control system commensurate
 with the size of the Company and nature of its business with regard to
 the purchase of inventory and fixed assets, and with regard to the sale
 of goods & services.  During the course of our audit, no major weakness
 has been noticed in the internal controls.
 
 5.  There were no transactions that need to be entered in the register
 maintained under Section 301 of the Companies Act, 1956.
 
 6.  In our opinion and according to the information and explanations
 given to us, the Company has not accepted deposits from the public and
 therefore, the provisions of the Section 58A and 58AA of the Companies
 Act, 1956 and rules there under are not applicable to the Company.
 
 7.  In absence of any Internal Audit Report, we are not in a position
 to state whether internal audit system commensurate with the size and
 the nature of its business.
 
 8.  To the best of our knowledge and as explained, the Central
 Government has not prescribed maintenance of cost records under clause
 (d) of sub-section (1) of Section 209 of the Companies Act, 1956 for
 the products of the Company.
 
 9.  (a) According to the records of the Company and information and
 explanations given to us, the
 
 Company has been regular in depositing undisputed statutory dues
 including Provident Fund, Investor Education and Protection Fund,
 Employees State Insurance, Income Tax, Sales Tax, Wealth Tax, Customs
 Duty, Excise Duty, Service Tax & Cess and other statutory dues with the
 appropriate authorities during the year.
 
 (b) There were no disputed amount payable in respect of Provident Fund,
 Investor Education and Protection Fund, Employees State Insurance,
 Income Tax, Sales Tax, Wealth Tax, CustomDuty, Excise Duty, Service
 Tax, cess and other material statutory dues in arrears as at 31st
 March, 2012 for a period of more than six months from the date it
 become payable.
 
 10.  The Company does not have accumulated losses as at the end of the
 year and the Company has not incurred cash losses during current and
 the immediately preceding financial year.
 
 11.  Based on our audit procedures and on the basis of information and
 explanations given by the management, we are of the opinion that
 Company has not defaulted in the repayment of dues to financial
 institutions, banks and debenture holders.
 
 12.  According to the 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.
 
 13.  In our opinion and according to the information and explanations
 given to us, the nature of activities of the Company does not attract
 any special statute applicable to chit fund and nidhi / mutual benefit
 fund / societies.
 
 14.  Based on the records examined by us and according to the
 information and explanations given to us, we are of the opinion that
 the Company is maintaining proper record of the transactions and
 contracts of dealing in shares and securities and that timely entries
 have been made in these records.
 
 15.  According to the information and explanations given to us, the
 Company has not given any guarantee for loans taken by others from bank
 and financial institutions.
 
 16.  To the best of our knowledge and belief and according to the
 information and explanations given to us, the Company were, prima
 facie, applied by the Company during the year for the purpose for which
 loans were obtained.
 
 17.  According to the information and explanations given to us and
 overall examination, we report that no fund raised on short-term basis
 have used for long-term investment.
 
 18.  The Company has not made any preferential allotment of shares to
 parties or companies covered in the register maintained under Section
 301 of the Companies Act, 1956.
 
 19.  The.Company has not issued any debentures.
 
 20.  The Company has not raised any money through a public issue during
 the year.
 
 21.  Based on information and explanation furnished by the management,
 which have been relied upon by us, there were no frauds on or by the
 Company noticed or reported during the year.
 
                                       For P. K. AJITSARIA & CO.
 
                                         Chartered Accountants 
 
 FRN 317046E                             Pawan Kumar Ajitsqria
 
 Place : Kolkata                                       Partner
 
 Dated : The 25th day of May, 2012        Membership No. 53109