CITY LIFTS (INDIA) LIMITED
I. We have examined the Balance Sheet of M/S. CITY LIFTS (INDIA) LIMITED,
A - 121, Ansa Industrial Estate, Saki Vihar Road, Mumbai 400 072, (in which
the accounts of City Financial Services Limited and City Delstar Cables
Limited are incorporated on amalgamation with effect from 1st July, 1996
and the profit and Loss Account for the year ended on 30th June, 1996 which
are in agreement with the books of accounts maintained at the Registered
Office at A-121 / Ansa Industrial Estate, Saki Vihar Road, Mumbai 400 072.
II. In our opinion and to the best of our information and according to the
explanations given to us, the Balance Sheet and Profit and Loss Account
together with the Notes thereon and attached thereto, give in the
prescribed manner, the information required by the Companies Act, 1956 and
also give respectively, a true and fair view of the state of the Company's
affairs as at 30th June, 1996 and its profit for the year ended on that
III. We have obtained all the information and explanations which, to the
best of our knowledge and belief, were necessary for our audit. In our
opinion, proper books of accounts have been kept as required by law so far
as appears from our examination of the books and the above mentioned
accounts are in agreement therewith.
FOR R.R. Suvarna & Co.
Place : Mumbai
Date : 9th November, 1996.