We have audited the attached Balance Sheet of M/S VIVID GLOBAL
 INDUSTRIES LIMITED, as at 31st March, 2012 and also the Proft and Loss
 Account for the year ended on that date annexed thereto. These fnancial
 statements are the responsibility of the Company''s management. Our
 responsibility is to express an opinion on these fnancial statements
 based on our audit.
 
 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 fnancial
 statements are free of material misstatement. An audit includes
 examining, on a test basis, evidence supporting the amounts and
 disclosures in the fnancial statements. An audit also includes
 assessing the accounting principles used and signifcant estimates made
 by management, as well as evaluating the overall fnancial statement
 presentation. We believe that our audit provides a reasonable basis for
 our opinion.
 
 As required by the Companies (Auditor''s Report) Order, 2003 issued by
 the Department of Company Affairs, Government of India, in terms of
 Section 227(4A) of the Companies Act, 1956, we enclose in the Annexure
 a statement on the matters specifed in paragraphs 4 and 5 of the said
 Order on the basis of such checks as we considered appropriate and
 according to the information and explanations given to us.
 
 Further to our comments in the Annexure referred to above, we report
 that:
 
 i 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
 
 ii 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.
 
 iii The Balance Sheet and Proft and Loss Account dealt with by this
 report are in agreement with the books of account.
 
 iv In our opinion, the Balance Sheet and Proft and 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; 
 
 v In our opinion, no cess is payable under section 441A
 
 On the basis of written representations received from the directors, as
 on 31st March, 2012, and taken on record by the Board of Directors, we
 report that none of the directors is disqualifed 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;
 
 In our opinion and to the best of our information and according to the
 explanations given to us, subject to the 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; and
 
 b.  In the case of Proft and Loss Account, of the Proft for the year
 ended on that date.
 
 ANNEXURE REFERRED TO IN PARAGRAPH 1 OF OUR REPORT OF EVEN DATE TO THE
 SHAREHOLDERS OF VIVID GLOBAL INDUSTRIES LIMITED
 
 As required by the Companies (Auditors Report) Order, 2003 issued by
 the department of Company Affairs, Government of India in terms of
 Section 227(4A) of the Companies Act 1956 and on the basis of such
 checks of Books and records of the Company as we considered appropriate
 and according to the information and explanations given to us during
 the course of audit, we further state that:
 
 I (a) The Company has maintained reasonable records, showing
 particulars like the situation of Fixed Assets.
 
 (b) We are informed that most of the Fixed Assets have been verifed
 once during the year, which in our opinion is reasonable having regard
 to the size of the Company and the nature of its assets. No material
 discrepancies were noticed by the management as compared with the
 records maintained by the Company.
 
 (c) The preparation of Financial Statements on a going concern basis is
 not affected on this account.
 
 II (a) The Stock of Goods have been physically verifed by the
 management during the year at reasonable intervals. In our opinion the
 frequency of verifcation is reasonable.
 
 (b) The procedure of physical verifcation of stocks followed by the
 management are reasonable and adequate in relation to the size of the
 company and the nature of its business.
 
 (c) The company is maintaining reasonable records of inventory. The
 discrepancies noticed on verifcation between the physical stock and
 book records were not material.
 
 III In respect of loans, secured or unsecured, granted or taken by the
 company to/from companies, frms or other parties covered in the
 register maintained under section 301 of the companies Act, 1956;
 
 (a) The company has not granted loans secured / unsecured to the
 companies, frms or other parties listed in the register maintained
 under section 301 of the Companies Act, 1956. The balance amount due to
 be received from these parties as on 31st March 2012 is Rs. Nil. The
 maximum amount due from such loans during the year was Rs.  Nil.
 
 The company has taken interest free / interest bearing loans, secured /
 unsecured in the earlier years from various parties and the balance
 outstanding as on 31.03.2012 is Rs. Nil. The maximum amount involved
 during the year was Rs. Nil.
 
 The registers required to be maintained u/s 301 of the Companies Act
 1956 have been maintained in the prescribed format by the Company.
 
 (a) In our opinion and according to the information and explanation
 given to us, the rate of interest in case of loan taken, wherever
 applicable, and other terms and conditions are not prima – facie
 prejudicial to the interest of the company.
 
 (b) In respect of the loans taken by the company, the principal as well
 as interest is regularly paid by the company.
 
 (c) There is no over due amount in respect of the loans taken by the
 company.
 
 IV In our opinion and according to the information and explanation
 given to us, there are adequate internal control procedures
 commensurate with the size of the Company and the nature of business
 for the purchase of the inventory and fxed assets and for the sale of
 goods. During the course of our audit, no major weakness in internal
 controls were either reported or noticed.
 
 V (a) The registers required to be maintained u/s 301 of the Companies
 Act 1956 have been maintained in the prescribed format by the Company.
 
 (b) In our opinion and according to the information given to us all the
 transactions entered into by the Company with related parties in
 pursuance to Section 301 of the Companies Act have been done with fair
 amount of reasonability vis ŕ vis the prevailing market prices at the
 relevant time.
 
 VI During the year under review the Company has not accepted Loan or
 Deposits. Hence no Deposits have been accepted from public during the
 year.
 
 VII The company has Internal Audit system commensurate with its size
 and nature of its business.
 
 VIII No Cost Records have been prescribed by the Central Govt. under
 Clause (d) of Sub Section (1) of Section 209 of the Companies Act,
 1956.
 
 IX (a) According to the records of the Company, the Company has been
 depositing with appropriate authorities the statutory dues such as
 Provident Fund, Employees State Insurance, Sales Tax, Custom Duty,
 Excise Duty, Cess and other statutory dues applicable to it. However
 some nominal delays have been noticed in the payment of the same during
 the year.
 
 (b) According to the information and explanation given to us, there are
 no disputed matters under any of the statute under the law.
 
 X The Company has not recorded any losses in the period covered by this
 audit as well as the fnancial year immediately preceeding this audit.
 However as the company has brought forward the losses of the earlier
 years, the details of the Cash Loss brought forward by them are as
 follows:
 
 XI As per the explanation and information given to us the Company has
 not defaulted in repayment of any dues to any Financial Institution or
 Banks. There is no issue of any Debentures by the Company in the year
 under review or any of the preceeding years.
 
 XII The Company has not granted loan and advances on the basis of
 security by way of pledge of Shares, debentures or other securities.
 
 XIII In our opinion, the Company is not a chit fund or a nidhi/ mutual
 beneft fund / society.  Therefore, the provision of clause 4 (xiii) of
 said order are not applicable to the company.
 
 XIV In our opinion, the company is not dealing in or trading in shares
 ,securities, debentures and other investments. Therefore the provision
 of clause (xiv) of the said are not applicable to the Company.
 
 XV According to the information and explanation given to us, the
 company has not given any guarantee for the loans taken by others from
 Banks and Financial Institutions. Accordingly, clause 4(xv) of the said
 order is not applicable.
 
 XVI According to the information and explanation of the Company, term
 taken have been applied for the purpose for which they were obtained.
 
 XVII In our opinion and according to the information and explanations
 given to us and on an overall examinations of the balance sheet of the
 company, we report that fund raised on short term basis have not been
 used for long term investment and vice versa.
 
 XVIII During the year, the company has not made any preferential
 allotment of shares to the parties and the company covered in the
 register maintained under section 301 of the Act.
 
 XIX In our opinion and according to the information and explanation
 given to us, the company has not issued any debentures during the
 period covered by our report. Accordingly, clause 4 (xix) of the said
 order is not applicable.
 
 XX During the period covered by our reports the Company has not raised
 any money by the public issues.
 
 XXI According to the information and explanation given to us, no fraud
 on or by the company has been noticed or reported during the course of
 our audit.
 
                                         For K.M. KAPADIA & ASSOCIATES
                                               (Chartered Accountants)
 
 
 
                                                  Membership No.39707
 
 Place:  Mumbai.
 Date :   31/07/2012