Geefcee Finance Ltd.

We have audited the accompanying financial statements of Geefcee Finance Limited (the Company), which comprises the Balance Sheet as at 31s'' March, 2015 and The Statement of Profit and Loss Account for the year ended, and a summary of Significant accounting policies and other explanatory information.. Management''s Responsibility for the Financial Statements The Company''s Managements is Responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance of the Company in accordance with the Accounting Standards notified under the Companies Act, 1956 (the Act) read with the General Circular 15/2013 Dated 13lh September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013. This responsibility includes the Design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditor''s Responsibility a. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants ot India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. b. An audit involves performing procedures to obtain audit evidence about the amount and disclosers in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatements of the financial statement. whether due to fraud or error. In making those risk assessments the auditor considers internal control relevant to the Company s preparation and fair presentation of the financial statements in order to design audit procedure that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity''s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. c. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion and to the best of our information and according to the explanations given to us the financial statements give the information required by the Act 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 31SI March, 2015; (b) in the case of the Statements of Profit and Loss, of the Profit for the year ended on that date; Report on Other Legal and Regulatory Requirements i. As required by the Companies (Auditor''s Report) Order, 2003, as amended by the Companies (Auditor''s Report) (Amendment) Order, 2004 issued by the Central Government of India in terms of sub- section (4 A) of the section 227 of the Act (The Order''), and on (he 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 Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 2. As required by section 227(3) of the Act, 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 have been kept by the Company so far as appear from our examination of those books; (c) The Balance Sheet, Statement of Profit and Loss dealt with by this report are in agreement with the books of account; (d) The Balance Sheet, the Statements of Profit and Loss comply with the Accounting Standard referred to in sub-section (3C) of 211 of the Companies Act, 1956 read with General Circular 15/2013 dated 13th September, 2013, issued by the Ministry of Corporate Affairs, in respect of section 133 of the Companies Act, 2013; (e) On the basis of written confirmations received from the Director of the Company as on 31st March, 2015 and taken on record by the Board of Directors, none of the directors of the Company is disqualified as on 31'' March, 2015 from being appointed as a director in term of clause (g) of sub-section (1) of Section 274 of the Companies Act, 1956; ANNEXURE TO THE AUDITORS''REPORT FOR THE YEAR ENDING 31,03.2015 (Referred lo our report of even date) In term of the information and explanations given to us and the books and records examined by us in the normal course of audit and to the best of our knowledge and belief, we state as under: I. a) There are no fixed assets. b) There are no fixed assets, hence, not applicable. 2. a) The inventories, if any, have been physically verified during the year by the management at reasonable intervals. b) In our opinion, 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. 3. a) The company has neither granted or taken any loans, secured or unsecured to/ from companies, firms or other parties covered in the register maintained under section 301 of the Act. b) Rate of interest and other terms and additions of loan given are not prejudicial to the interest of the company. c) The payment of principal and interest in case of loan given is regular wherever stipulated. There is no overdue amount of loan given exceeding Rs. t lac. 4. In our opinion and according to the information and explanations given lo us. there is an adequate internal control system commensurate with the size of the Company and the nature of its business. During the course of our audit, no major weakness has been noticed in the internal control system in respect of these areas. 5 a) As per our prima facie examination of the register maintained under section 301 of the act, that the transactions that need to be entered into register in pursuance of section 301 of the Act have been so entered. b) In oui opinion each ot these transactions lias been made at prices which are reasonable having regard to the prevailing market prices at the relevant time. 6. The company has not accepted deposits from the public. 7. In our opinion the company has an adequate internal audit system commensurate with its size and nature of its business. 8. Maintenance of cost records U/S 209 (1) (d) of the companies Act, 1956 has not been prescribed for the company. 9. a) The Company is regular in depositing undisputed statutory dues including provident Fund, Employees'' State Insurance, Income-Tax, Custom Duty, Excise Duty, cess and any other statutory dues with the appropriate authorities. There are no arrears of outstanding statutory dues as at 3 ls! March 2015, concerned for a period of more than six months from the date they become payable. b) As per information given to us, there are no dues of sales Tax/ Income Tax Custom Duty/ Wealth Tax/ Excise Duty/ cess which have not been deposited on account of an) dispute. 10. The Company is not a sick company. 11. The Company has no dues to the financial institution or bank. The company has not issued any debentures. 12. The Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities, 13. The Company is not a chit fund, nidhi or mutual benefit fund/ society. Therefore the clauses 13 (a), (b), (c), and (d) are not applicable. 14. Proper records have been maintained of the transactions and contracts. 15. The Company has not given any guarantee for loans taken by other from bank or financial institutions. 16 The Company has not taken any term loans, 17. On the basis of examination of records and as per the explanations given to us, we are of the opinion that the fund raised on short-term basis have not been used for long term investment and vice versa. 18. During the year, the Company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under Section 301 of the Act. 19. The Company has not issued any debentures during the year. 20. During the year, the Company has not raised any money by Public Issue. 21. During the checks carried out by us and as per the information made available to us, no fraud on or by the company has been noticed or reported during the year under report. For SING LA & ASSOCIATES Chartered Accountants Firm Registration No. 005I04N (Mahavir Parsad) Place: New Delhi Partner Dated: 15s'' May, 2015 Membership No. 089313